bullish

Daily

<p>Ripple’s recent price action reflects a cautious market, with a temporary rebound from the critical $0.5 support zone toward the 200-day moving average.</p>
<p>However, a rejection at this level could solidify the ongoing bearish trend.</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" rel="noopener noreferrer nofollow">Shayan</a></p>
<h3 id="the-daily-chart">The Daily Chart</h3>
<p>On the daily chart, XRP faced renewed selling pressure after failing to sustain gains near the 200-day moving average at $0.57. This level has acted as a strong resistance, and a breakdown below the 200-day MA suggests that sellers are attempting to push the price lower. Following the decline, Ripple found support at the significant $0.5 level, a historically critical area that has consistently served as a defensive zone for buyers over the past year.</p>
<p>Currently, the asset is retracing toward the 200-day MA, but another rejection at this level would likely complete the pullback and lead to further declines, potentially targeting the $0.46 mark.<a href="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-5-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></p>
<h3 id="the-4-hour-chart">The 4-Hour Chart</h3>
<p>The 4-hour chart shows a descending consolidation pattern, with Ripple trading within a crucial support zone defined by the 0.5 ($0.52) and 0.618 ($0.49) Fibonacci levels. This area has provided solid support over multiple months. Ripple has also formed a descending wedge pattern near the $0.49-$0.52 range, with recent buying activity pushing the price toward the wedge’s upper boundary at $0.53.</p>
<p>A breakout above this threshold could indicate a bullish rebound, potentially reaching the $0.55 resistance. However, given the overall market sentiment and recent downward trends, a rejection at this level followed by a decline toward the $0.5 support is the more likely mid-term scenario.<a href="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-5-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="aligncenter size-full wp-image-368415" src="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-5-scaled.jpg" alt="" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-5-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-5-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-5-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-5-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-5-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-5-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-5-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a></p>
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-how-low-can-xrp-go-if-it-loses-the-0-5-support/" rel="noopener noreferrer nofollow">Ripple Price Analysis: How Low Can XRP Go if it Loses the $0.5 Support?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: How Low Can XRP Go if it Loses the $0.5 Support?

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