{"id":4822,"date":"2024-09-09T10:48:01","date_gmt":"2024-09-09T10:48:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=4822"},"modified":"2024-09-09T10:48:01","modified_gmt":"2024-09-09T10:48:01","slug":"ripple-price-analysis-xrp-needs-to-stay-above-this-key-level-to-avoid-further-declines","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=4822","title":{"rendered":"Ripple Price Analysis: XRP Needs to Stay Above This Key Level to Avoid Further Declines"},"content":{"rendered":"

Ripple has undergone another sharp drop, breaking below the critical 100-day moving average of $0.53.<\/p>\n

This breakdown underscores the bearish outlook for the asset, with the price likely to continue its downtrend after a period of temporary consolidation.<\/p>\n

XRP Analysis<\/h2>\n

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

The Daily Chart<\/h3>\n

A closer look at the daily chart shows that Ripple faced significant selling pressure, leading to a break below the crucial 100-day moving average at $0.53. The breach of the 100- and 200-day moving averages indicates a strong bearish signal, affirming the dominance of sellers in the market. Ripple is retracing toward the broken MA, attempting to complete a pullback.<\/p>\n

If sellers regain control at this level, XRP is expected to continue its downward trend toward the $0.48 support zone. A consolidation phase between the $0.48 support and the $0.54 resistance is anticipated in the mid-term.<\/a><\/p>\n

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

On the 4-hour timeframe, Ripple has broken below the lower boundary of a descending wedge pattern, highlighting the prevailing bearish sentiment. The price is now attempting to pull back to the broken trendline, which could confirm the breakout.<\/p>\n

Simultaneously, XRP has reached a critical support zone defined by the 0.5 ($0.52) to 0.618 ($0.48) Fibonacci retracement levels, where demand may emerge and temporarily halt the decline.<\/p>\n

Ripple is trading within a narrow range, constrained by the 0.5 Fib level and the broken wedge\u2019s lower trendline. A breakout from this range will determine the next move in the short term.<\/a><\/p>\n

\u00a0<\/p>\n

The post Ripple Price Analysis: XRP Needs to Stay Above This Key Level to Avoid Further Declines<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Ripple has undergone another sharp drop, breaking below the critical 100-day moving average of $0.53. This breakdown underscores the bearish outlook for the asset, with the price likely to continue its downtrend after a period of temporary consolidation. XRP Analysis By Shayan The Daily Chart A closer look at the daily chart shows that Ripple […]<\/p>\n","protected":false},"author":0,"featured_media":4823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4822","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\/4822"}],"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=4822"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/4823"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}