Is XRP Headed to a Crash Below $0.50?


Ripple has just lately encountered vital promoting strain close to the $0.65 resistance zone, triggering a pointy decline.

This motion alerts a possible shift towards bearish dominance as the worth breaks beneath the ascending wedge sample’s decrease boundary. XRP might proceed its descent towards the $0.5 threshold within the coming classes.

By Shayan

The Every day Chart

On the every day chart, XRP surged in direction of the ascending wedge’s higher boundary and the first resistance zone of $0.65, solely to face substantial rejection.

This space, aligning with earlier swing highs, is a formidable resistance stage and has halted additional value will increase in latest months. Following the rejection, Ripple entered the essential value vary of $0.5-$0.55, the place short-term consolidation is more likely to happen.

Given the break beneath the ascending wedge’s decrease trendline, a bearish continuation is anticipated. If XRP makes an attempt a pullback to retest the damaged wedge, the worth might face extra promoting strain, probably driving it towards decrease thresholds, notably the $0.5 assist stage.

xrp_price_chart_0410241
Supply: TradingView

The 4-Hour Chart

The 4-hour chart reveals a false breakout after Ripple briefly surpassed the $0.65 stage. This transfer introduced in substantial demand, however the surge was met with intense promoting strain, resulting in a pointy reversal.

XRP’s value shortly fell again contained in the flag sample from which it had damaged out.

At the moment, the cryptocurrency is testing a important assist area marked by the flag’s decrease trendline and the Fibonacci retracement ranges of 0.5 ($0.52) and 0.618 ($0.48). This vary is anticipated to carry the worth quickly, resulting in a possible short-term bullish corrective transfer and sideways consolidation earlier than the following main pattern path is established.

xrp_price_chart_0410242
Supply: TradingView
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Cryptocurrency charts by TradingView.



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