skip to Main Content
bitcoin
Bitcoin (BTC) $ 84,903.75 2.73%
ethereum
Ethereum (ETH) $ 1,907.87 4.09%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.14 1.62%
bnb
BNB (BNB) $ 607.93 0.17%
solana
Solana (SOL) $ 126.40 0.64%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.172073 3.24%
cardano
Cardano (ADA) $ 0.677238 2.96%
tron
TRON (TRX) $ 0.236886 1.10%

Ripple Crashes 8.5% Weekly, Will $0.4 Hold? (XRP Price Analysis)

After Ripple’s sudden decline, the price fell below the 100-day moving average. However, it has now reached the critical support level of the 200-day moving average at $0.41, and the bears might just be getting started.

Technical Analysis

By Shayan

The Daily Chart

Following Ripple’s rejection from the $0.58 resistance level on the daily chart, the price experienced a massive decline, dropping below the 100-day moving average. However, the cryptocurrency has found substantial support at the 200-day moving average of $0.41.

The strength of this moving average suggests that the price may enter a consolidation phase. However, if the bears manage to push it below the 200-day moving average, this may trigger a cascade effect and bearish sentiment for Ripple’s long-term prospects.

xrp_price_chart_0905231
Source: TradingView

The 4-Hour Chart

On the 4-hour chart, Ripple’s price has formed an ascending channel. The recent rejection caused it to drop below the minor support level of $0.48 and the channel’s mid-trend line. Currently, XRP faces two crucial support levels: the primary one of $0.4 and the channel’s lower trendline, approximately at $0.37.

In summary, based on the recent action, the price seems more likely to remain within the range of $0.4 and $0.48 until a breakout occurs.

xrp_price_chart_0905232
Source: TradingView

The post Ripple Crashes 8.5% Weekly, Will $0.4 Hold? (XRP Price Analysis) appeared first on CryptoPotato.

Loading data ...
Comparison
View chart compare
View table compare
Back To Top