After forming a bearish double-top pattern and undergoing a period of consolidation, Ripple’s price struggled to break below the 100-day moving average. However, it finally declined below the moving average, reaching %excerpt%.44. This decline indicates a bearish outlook for Ripple’s short-term prospects. Technical Analysis By Shayan AThe Daily Chart Upon analyzing the Daily Chart, it becomes evident that Ripple’s price exhibited high volatility around the crucial resistance level of %excerpt%.5. This resulted in the formation of a bearish double-top reversal pattern. Consequently, there has been a significant decline, breaking below the critical support level represented by the 100-day moving average. Currently, the price is retracing back to the previously broken level at %excerpt%.485,
Topics:
CryptoVizArt considers the following as important: Ripple (XRP) Price, XRP Analysis, xrpbtc, xrpusd
This could be interesting, too:
Dimitar Dzhondzhorov writes Is a Major Ripple v. SEC Lawsuit Development Expected This Week? Here’s Why
Mandy Williams writes Ripple Releases Institutional DeFi Roadmap for XRP Ledger in 2025
Dimitar Dzhondzhorov writes Ripple Whales Go on a Selling Spree: Is XRP Headed for a Further Correction?
Jordan Lyanchev writes ChatGPT and DeepSeek Analyze Ripple’s (XRP) Price Potential for 2025
After forming a bearish double-top pattern and undergoing a period of consolidation, Ripple’s price struggled to break below the 100-day moving average. However, it finally declined below the moving average, reaching $0.44. This decline indicates a bearish outlook for Ripple’s short-term prospects.
Technical Analysis
By Shayan
AThe Daily Chart
Upon analyzing the Daily Chart, it becomes evident that Ripple’s price exhibited high volatility around the crucial resistance level of $0.5. This resulted in the formation of a bearish double-top reversal pattern. Consequently, there has been a significant decline, breaking below the critical support level represented by the 100-day moving average.
Currently, the price is retracing back to the previously broken level at $0.485, creating a pullback. If it’s successful, another decline toward the next crucial support region can be anticipated. This region encompasses the substantial support of the 200-day moving average at $0.4328, as well as the static support zone at $0.42.
The 4-Hour Chart
Shifting our attention to the 4-hour chart, it is evident that the price has finally dropped below the middle trendline of the ascending channel. Ripple is returning to the broken level at $0.49, forming a pullback.
Furthermore, during the recent market turmoil, the price has also declined below the ascending trendline (marked in green). It is currently testing it through a pullback at the same level as the middle trendline of the channel.
Consequently, if both the channel’s middle trendline and the ascending green trendline reject the price, there is a strong possibility of a cascade toward the static support region at $0.42.
