Ripple (XRP) The pressure is building as the price continues to experience steep price declines, and it is breaking below key technical levels. Once a dominant force in the crypto space, the digital asset is now struggling to maintain its foothold amidst the broader market downturn. XRP’s recent break above its 100-day moving average (MA) of $0.53 suggests further downside is possible unless strong support levels are found.
Ripple’s Bearish Momentum Continues: Breakdown Below Key Moving Averages
According to the daily chart analysis, Ripple has been fighting against strong selling pressure. Breaks below the 100-day and 200-day moving averages have solidified the bearish outlook. These moving averages usually act as support levels, and a break below them is a strong bearish indicator, indicating a continued downtrend in the market.
Currently, XRP is trying to retest the $0.53 mark, but this could be a temporary pullback before sellers regain control. The next significant support area is near $0.48, and XRP needs to defend this level to prevent further losses. If Ripple fails to stabilize here, the price could consolidate between $0.48 and $0.54 in the short term, which would keep investors cautious.
The 4-hour chart shows a major bearish pattern in XRP price action.
Taking a closer look at the 4-hour chart, Ripple is breaking below a falling wedge pattern, highlighting the bearish sentiment in the overall market. This pattern usually indicates a continuation of the prevailing trend, and the current price action suggests that XRP may see further declines.
Ripple is trading in a narrow range between two important levels, the 0.5 Fibonacci correction level at $0.52 and the 0.618 Fibonacci level at $0.48. This area represents a potential demand zone where buyers can step in, but if XRP fails to break this level, the downtrend could accelerate. A clear breakout of this range will determine whether the short-term direction of the asset is towards recovery or continued weakness.
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