Ripple Struggles to Maintain $0.53 Support: What This Means for XRP’s Future

2 months ago 1

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XRP Price Bigger Drops Ahead Analyst Warns of Potential Revisit to 2020 Lows 1024x576 1

Ripple (XRP) is under mounting pressure as it continues to experience sharp price drops, breaking below crucial technical levels. The digital asset, once a dominant force in the crypto space, is now struggling to maintain its footing amid a broader market downturn. XRP’s recent breach of the 100-day moving average (MA) at $0.53 signals potential further declines unless a strong support level is found.

Ripple’s Bearish Momentum Continues: A Breakdown Below Key Moving Averages

The daily chart analysis shows Ripple has been battling intense selling pressure. The breach below the 100-day and 200-day moving averages has solidified the bearish outlook. These moving averages typically act as support levels, and breaking beneath them is a strong bearish indicator, signalling a sustained downward trend in the market.

At present, XRP is attempting to retest the $0.53 mark, but this may merely be a temporary pullback before sellers regain control. The next critical support zone lies around $0.48, a level XRP must defend to prevent further losses. Should Ripple fail to stabilize here, the price could consolidate between $0.48 and $0.54 in the near term, maintaining a cautious outlook for investors.

4-Hour Chart Reveals Key Bearish Pattern in XRP’s Price Action

A more granular look at the 4-hour chart reveals Ripple’s break below a descending wedge pattern, highlighting the overall bearish sentiment in the market. This pattern typically signals continuation in the prevailing trend, and the current price action suggests XRP may see further downside.

Ripple is trading within a narrow range, held between two crucial levels: the 0.5 Fibonacci retracement level at $0.52 and the 0.618 Fib level at $0.48. This zone represents a potential demand area where buyers may step in, but if XRP fails to break above these levels, the decline could accelerate. A clear breakout from this range will determine the short-term direction for the asset, whether toward recovery or continued weakness.