Resistance

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<p>“Ripple Faces Key Resistance at $0.63: Will Consolidation Lead to a Breakout?”</p>
<p>Ripple has recently experienced a significant surge, reaching the crucial resistance region at $0.63. However, strong selling pressure at this level led to a rejection, keeping XRP confined within the key price range between $0.63 and $0.55.</p>
<p>For the short term, a consolidation phase is expected as the market evaluates its next move.</p>
<h1 id="xrp-price-analysis">XRP Price Analysis</h1>
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Shayan</a></p>
<h2 id="the-daily-chart">The Daily Chart</h2>
<p>An in-depth analysis of XRP’s daily chart shows that after a resurgence in demand near the critical $0.43 support region, the price experienced a notable surge, reaching the significant $0.63 resistance zone.</p>
<p>This level has previously acted as a robust barrier, rejecting price advances and pushing Ripple lower. Recently, the cryptocurrency was rejected again from the $0.63 mark due to prevailing selling pressure, leading to a retracement toward the substantial support region at $0.55.</p>
<p>Currently, XRP appears confined within this decisive range, bounded by the $0.63 resistance and $0.55 support. A period of sideways consolidation here is expected in the short term, with a breakout in either direction likely to determine Ripple’s next move. The cryptocurrency’s next potential targets are either the $0.71 resistance or the $0.48 critical support.</p>
<figure id="attachment_353174" aria-describedby="caption-attachment-353174" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-D-1-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a>
 <figcaption id="caption-attachment-353174" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<h2 id="the-4-hour-chart">The 4-Hour Chart</h2>
<p>The 4-hour chart further illustrates that Ripple’s impulsive surge encountered significant resistance near $0.63, leading to rejection and subsequent retracement toward the crucial $0.55 support region.</p>
<p>This area appears to be filled with demand, offering potential support in the mid-term. However, buyers and sellers are currently battling near this critical threshold.</p>
<p>If buyers can prevail and sustain buying pressure in the coming days, XRP could experience a fresh surge, targeting the $0.63 level again. Conversely, if sellers dominate, the continuation of bearish retracements seems likely, with the next target between the $0.52 (0.5 Fibonacci) and $0.48 (0.618 Fibonacci) levels.</p>
<figure id="attachment_353175" aria-describedby="caption-attachment-353175" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-1-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-353175" src="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-1-scaled.jpg" alt="" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-1-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-1-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-1-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-1-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-1-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-1-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-1-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-353175" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<p>The post <a href="https://cryptopotato.com/ripple-faces-key-resistance-at-0-63-will-this-consolidation-lead-to-xrp-price-breakout/" rel="noopener noreferrer nofollow">Ripple Faces Key Resistance at $0.63, Will This Consolidation Lead to XRP Price Breakout?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Ripple Faces Key Resistance at $0.63, Will This Consolidation Lead to XRP Price Breakout?

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