Daily

<p>Ripple has encountered intense selling pressure near the key resistance zone, defined by the 100 and 200-day moving averages around the $0.55 mark.</p> 
<p>This has led to a sharp rejection and subsequent decline. The asset now hovers near a crucial support region, which could trigger a period of sideways consolidation.</p> 
<h2 id="xrp-analysis">XRP Analysis</h2> 
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank">Shayan</a></p> 
<h3 id="the-daily-chart">The Daily Chart</h3> 
<p>On the daily chart, XRP saw a spike in selling activity as it approached the $0.55 resistance level, where the 100-day and 200-day moving averages intersect. This zone represents a significant supply area, and the rejection from this level caused a 14% price drop.</p> 
<p>Ripple is now testing the $0.5 support, a level that has acted as a solid base since mid-July. This support region may attract enough buying interest to slow down the bearish momentum, leading to a consolidation phase before the next move.<a href="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-4-scaled.jpg" data-wpel-link="internal"></a></p> 
<h3 id="the-4-hour-chart">The 4-Hour Chart</h3> 
<p>The 4-hour chart reveals a more detailed view of Ripple’s bearish price action, with a series of lower highs and lower lows forming a clear downtrend. The price recently broke below the lower boundary of the bearish flag pattern, confirming a continuation of the downtrend.</p> 
<p>Ripple has now entered a significant support zone between the 0.5 ($0.52) and 0.618 ($0.49) Fibonacci retracement levels. If the price manages to break below the 0.618 Fibonacci level, a further decline toward the $0.46 support is possible. However, if the asset finds support in this region, a period of consolidation could ensue in the short term.<a href="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-4-scaled.jpg" data-wpel-link="internal"><img class="aligncenter size-full wp-image-368011" src="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-4-scaled.jpg" alt="" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-4-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-4-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-4-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-4-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-4-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-4-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-4-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a></p> 
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-calm-before-the-storm-for-xrp-after-6-5-weekly-decline/" rel="nofollow">Ripple Price Analysis: Calm Before the Storm for XRP After 6.5% Weekly Decline?</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: Calm Before the Storm for XRP After 6.5% Weekly Decline?

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