So low can be XRP if $ 0.5 cannot be kept (ripple price analysis)
So low can be XRP if $ 0.5 cannot be kept (ripple price analysis)
ripple recorded a considerable increase, but his upward trend slows down when he reached the critical level of resistance of $ 0.58. Nevertheless, it seems to have a bullish perspective on the weekly time frame.
technical analysis
of Shayan
The weekly chart
After a significant increase, XRP successfully broke the multi -year descending trend line, a key level in the weekly time frame, which ensures a positive market mood.
However, the price is now faced with two significant barriers: the range of $ 0.53 to $ 0.58 and the sliding 100-week average, which is positioned at $ 0.63.
If XRP succeeds in exceeding the 0.53-$-$ 0.58-$ zone, a rally in the direction of the sliding 100-week average is likely. Conversely, if the price does not exceed this range, the descending trend line serves as Ripple’s primary support level.
Tradingview
The 4-hour diagram
The price of XRP tried to break the $ 0.58 mark, but encountered resistance, which led to a reversal and a steady decline. However, after he had fallen to $ 0.48, he entered a consolidation phase with low volatility.
During this time, the price formed an ascending flag pattern and is currently testing the lower threshold. At the moment, XRP is faced with two decisive support levels: the small support of $ 0.48 and the lower trend line of the flag.
In summary, it can be said that if the price falls below the lower trend line, the small zone of $ 0.48 is reached by Ripple’s primary support in the 4-hour time frame. Conversely, when Ripple can reach a further significant increase and break through the resistance brand of $ 0.58, this could trigger an extensive upward movement towards the $ 0.63 zone. Tradingview
.