Crash

bullish

Daily

<p>Ripple’s recent activity has highlighted a bearish trend, with a rejection at the 200-day moving average of $0.53.</p>
<p>This resistance has halted the cryptocurrency’s previous upward momentum, driving the price back toward the $0.5 support level. Therefore, this raises concerns about its prospects.</p>
<h1 id="xrp-analysis">XRP 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>On the daily chart, XRP recently encountered selling pressure after a minor retracement toward the 200-day moving average, leading to a sharp rejection. This resistance has halted the sustained bullish momentum, causing Ripple to revisit the $0.5 support region.</p>
<p>This level has consistently acted as a stronghold for buyers in recent months, making it a critical area for sellers aiming to drive the price lower. Currently, XRP is trading within the $0.5-$0.53 range, with the impending breakout likely defining the next mid-term trend.</p>
<figure id="attachment_368851" aria-describedby="caption-attachment-368851" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/11/XRP-D-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a>
 <figcaption id="caption-attachment-368851" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<h2 id="the-4-hour-chart">The 4-Hour Chart</h2>
<p>The 4-hour chart provides a closer look at Ripple’s consolidation within a crucial support zone between the 0.5 ($0.52) and 0.618 ($0.49) Fibonacci retracement levels.</p>
<p>XRP has recently encountered resistance around the 0.618 level and the upper boundary of its wedge formation, suggesting seller activity at this juncture.</p>
<p>Should the cryptocurrency break above this resistance level, a bullish rebound towards the $0.55 zone is possible. However, given the broader bearish sentiment, a continuation of the consolidation or a bearish breakdown below the $0.5 level appears more likely in the short term. A decisive break below $0.5 would signal a potential sustained downward trend.</p>
<figure id="attachment_368850" aria-describedby="caption-attachment-368850" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-368850 size-full" src="https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-scaled.jpg" alt="xrp_price_chart_0211242" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-368850" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-is-xrp-about-to-crash-much-lower-than-0-5/" rel="noopener noreferrer nofollow">Ripple Price Analysis: is XRP About to Crash Much Lower Than $0.5?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: is XRP About to Crash Much Lower Than $0.5?

Table of Contents

CryptoPotato_News

Other articles published on Nov 2, 2024

RWA Sector Poised for $600B Growth by 2030: Report

Why Cybro Is a Superior Short-Term Investment Compared to Bitcoin and Ethereum

Crypto Analyst Predicts Dogecoin and Other Altcoins Will Rise

Sonic SVM Partners With Solayer and Adrastea to Expand Solana’s Restaking Ecosystem – Reaching $5...

UBS Launches Ethereum-Based Tokenized Fund “uMINT”

Coinbase Uncovers FDIC Pause Letters in Fight for Crypto Clarity

Join our free newsletter for daily crypto updates!