Ripple’s price has struggled to break the significant descending trendline at %excerpt%.42 and is consolidating. However, it now faces the critical support level of the 200-day moving average. Technical Analysis By Shayan The Daily Chart Ripple’s price action has been dull after failing to surpass the %excerpt%.42 substantial resistance level, which also aligns with the descending trendline. The price plummeted slightly and reached the 200-day moving average at %excerpt%.395. Therefore, the cryptocurrency is stuck in a very tight range between %excerpt%.42 and %excerpt%.395. A breakout from this range will likely lead to an impulsive move, as there is an enormous amount of liquidity above and below it. Source: TradingviewThe 4-Hour Chart In the 4-hour timeframe, the weakened bullish momentum is evident as
Topics:
CryptoVizArt considers the following as important: Ripple (XRP) Price, XRP Analysis, xrpbtc, xrpusd
This could be interesting, too:
Jordan Lyanchev writes How High Can Ripple (XRP) Go With Gary Gensler Out of the Picture? (AI Bots Analyze)
George Georgiev writes Ripple (XRP) Price Pumps 5% Following News that Gary Gensler Will Quit
Dimitar Dzhondzhorov writes Top Ripple (XRP) Price Predictions as of Late
Dimitar Dzhondzhorov writes Important Binance Announcement Affecting Certain XRP, ADA, and DOGE Traders: Details
Ripple’s price has struggled to break the significant descending trendline at $0.42 and is consolidating. However, it now faces the critical support level of the 200-day moving average.
Technical Analysis
By Shayan
The Daily Chart
Ripple’s price action has been dull after failing to surpass the $0.42 substantial resistance level, which also aligns with the descending trendline.
The price plummeted slightly and reached the 200-day moving average at $0.395. Therefore, the cryptocurrency is stuck in a very tight range between $0.42 and $0.395. A breakout from this range will likely lead to an impulsive move, as there is an enormous amount of liquidity above and below it.
The 4-Hour Chart
In the 4-hour timeframe, the weakened bullish momentum is evident as the price failed to print another higher high after reaching the $0.42 region and was rejected from the trendline after several attempts.
Nevertheless, the cryptocurrency faces a mid-range support level at $0.386, which is the prior central pivot. If XRP finds support at the mentioned level, the price might initiate a rally, attempting to surpass the trendline.
On the contrary, if it drops below its prior low, the uptrend will end, and the market should expect a reversal. In this case, Ripple’s next level of support will be the $0.33 region.
