skip to Main Content
bitcoin
Bitcoin (BTC) $ 82,211.03 1.34%
ethereum
Ethereum (ETH) $ 1,804.13 2.17%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.07 5.32%
bnb
BNB (BNB) $ 596.28 1.77%
solana
Solana (SOL) $ 126.28 0.29%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.164552 3.88%
cardano
Cardano (ADA) $ 0.648627 5.25%
tron
TRON (TRX) $ 0.231939 0.16%

Why is the Ripple (XRP) Price Crashing Today?

XRP turned bearish after sellers took control of the price action earlier this month. Let’s examine a few different technical indicators that may provide important insights into where the market is currently at and where it might be headed next.

Key Support levels: $0.43

Key Resistance levels: $0.54

1. Ripple Price Loses Key Support

Unfortunately for bulls, the support at 54 cents was lost and has now turned into a key resistance. If buyers are unable to reclaim this level, then the XRP price has a good chance to revisit the key support at 43 cents.

XRPUSDT_2024-04-25_13-50-33
Chart by TradingView

2. Momentum Turns Bearish

Since XRP made a lower high in early March, the price entered a prolonged downtrend. This culminated with a local low at 43 cents during the crash in mid-April. The bias is bearish, and the 43-cents level must be maintained to avoid new lows.

XRPUSDT_2024-04-25_13-50-45
Chart by TradingView

3. MACD Shows Bears are in Control

The weekly MACD did a bearish cross this month. The moving averages continue to fall, and the histogram also makes lower lows. As long as this continues, there is little hope of a reversal.

XRPUSDT_2024-04-25_13-51-38
Chart by TradingView

The post Why is the Ripple (XRP) Price Crashing Today? appeared first on CryptoPotato.

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