{"id":4176,"date":"2024-09-06T14:40:55","date_gmt":"2024-09-06T14:40:55","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=4176"},"modified":"2024-09-06T14:40:55","modified_gmt":"2024-09-06T14:40:55","slug":"more-pain-for-xrp-likely-as-sellers-target-0-5-ripple-price-analysis","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=4176","title":{"rendered":"More Pain for XRP Likely as Sellers Target $0.5: Ripple Price Analysis"},"content":{"rendered":"

Ripple has presented a solid bearish signal by breaking below the 200-day moving average of $0.55, highlighting the presence of sellers in the market.<\/p>\n

However, the price is now battling to breach the 100-day MA at $0.53, and a successful break below this level could trigger a significant decline in the coming days.<\/p>\n

XRP Analysis<\/h1>\n

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

The Daily Chart<\/h2>\n

A close analysis of the daily chart reveals that Ripple has been hovering near the critical 200-day moving average at $0.55, and recently, it slipped slightly below this level. Now, the price is at a pivotal support region, defined by the 100-day moving average of $0.53, which acts as a key barrier.<\/p>\n

The overall daily outlook will become bearish if Ripple breaks below this level. If buyers defend this zone and hold the price above both daily MAs, there\u2019s a chance for a bullish reversal. However, based on the current price action, a break below $0.53, leading to further decline, seems more likely.<\/p>\n

<\/a>Source: TradingView<\/p>\n

The 4-Hour Chart<\/h2>\n

On the 4-hour chart, Ripple remains within a crucial range, with support at $0.53 and resistance around $0.64. The current price action suggests that sellers are increasingly interested in breaking below the $0.53 support zone, which could lead to a significant price drop.<\/p>\n

Ripple is currently testing this lower boundary, and a break below it, along with the wedge\u2019s lower boundary, may trigger a liquidation event, pushing the price lower.<\/p>\n

In this case, the next downside target lies between the 0.5 and 0.618 Fibonacci retracement levels. Alternatively, if buyers step in and defend the $0.53 level, a rebound toward the $0.60 mark could follow.<\/p>\n

<\/a>Source: TradingView<\/p>\n

The post More Pain for XRP Likely as Sellers Target $0.5: Ripple Price Analysis<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Ripple has presented a solid bearish signal by breaking below the 200-day moving average of $0.55, highlighting the presence of sellers in the market. However, the price is now battling to breach the 100-day MA at $0.53, and a successful break below this level could trigger a significant decline in the coming days. XRP Analysis […]<\/p>\n","protected":false},"author":0,"featured_media":4177,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4176","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\/4176"}],"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=4176"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/4177"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}