{"id":1637,"date":"2024-08-28T11:55:57","date_gmt":"2024-08-28T11:55:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=1637"},"modified":"2024-08-28T11:55:57","modified_gmt":"2024-08-28T11:55:57","slug":"ripple-price-analysis-will-the-0-55-support-level-hold-after-xrp-was-rejected-at-0-6","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=1637","title":{"rendered":"Ripple Price Analysis: Will The $0.55 Support Level Hold After XRP Was Rejected at $0.6?"},"content":{"rendered":"

Ripple has been trading within a tight range of $0.55 to $0.63, with the price recently facing a significant rejection near the critical $0.64 resistance level, retracing toward the range\u2019s lower boundary.<\/p>\n

Despite this pullback, the asset is anticipated to undergo a period of sideways consolidation within this range until a breakout occurs.<\/p>\n

XRP Analysis<\/h2>\n

By Shayan<\/a><\/p>\n

The Daily Chart<\/h3>\n

A detailed examination of the daily chart reveals that Ripple has been confined within a crucial range, bounded by the $0.64 resistance and the $0.55 support level. Recently, it encountered increased selling pressure near the range\u2019s upper boundary at the critical $0.64 resistance, resulting in a significant rejection.<\/p>\n

Consequently, the asset has retraced towards the lower boundary of the range, which aligns with the 200-day moving average at $0.55, forming a strong support barrier. Given the current market conditions, Ripple is expected to experience sideways consolidation within this range until a decisive breakout occurs. A cascade towards the $0.50 threshold becomes highly likely if a bearish breakout happens.<\/a><\/p>\n

The 4-Hour Chart<\/h3>\n

On the 4-hour chart, Ripple\u2019s price action shows a clear rejection from the resistance zone at $0.64, a level that has consistently acted as a formidable barrier due to heightened selling pressure. This rejection has resulted in a downtrend, bringing the asset to a crucial support area of around $0.55.<\/p>\n

Currently, Ripple is consolidating within the $0.55-$0.64 range, with the price nearing a potential breach of the lower boundary. Should this breach occur, a bearish continuation toward the crucial support region, marked by the 0.5 ($0.52) to 0.618 ($0.48) Fibonacci levels, is likely. Conversely, a bullish reversal targeting the range\u2019s upper boundary at $0.64 could unfold if buying pressure emerges.<\/a><\/p>\n

The post Ripple Price Analysis: Will The $0.55 Support Level Hold After XRP Was Rejected at $0.6?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Ripple has been trading within a tight range of $0.55 to $0.63, with the price recently facing a significant rejection near the critical $0.64 resistance level, retracing toward the range\u2019s lower boundary. Despite this pullback, the asset is anticipated to undergo a period of sideways consolidation within this range until a breakout occurs. XRP Analysis […]<\/p>\n","protected":false},"author":0,"featured_media":1638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/1637"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1637"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/1637\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/1638"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}