XRP enters the danger zone, does a crash come? (Ripple price analysis)

XRP enters the danger zone, does a crash come? (Ripple price analysis)

rippleder price of is caught in a static range between $ 0.42 and $ 0.31 and fights for the outbreak. A consolidation phase within this area could be imminent, since the cryptocurrency recently rejected from an important level of resistance.

technical analysis

of Shayan

The weekly chart

since 2021, Ripple has declined and forms a falling wedge pattern in the weekly time frame. The price recently experienced a slight break -in after it was rejected by the upper threshold of the wedge.

The price region of $ 0.31 currently serves as significant support because it has kept the price in the past four months, while the region of $ 0.55 acts as the primary resistance. In the event of a decline below $ 0.31, a market cleanup is expected, and the lower limit of the wedge it will be its rippling station.

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the daily -type

As shown in the graphic below, the rejection of the continued descending trend line has led to the collapse of the sliding 200-day average. Typically, the overview or tendency for the price of an assets is determined by the positioning of the assets compared to the gliding 200-day average. If the course falls below the MA, the overview is considered bears, while the opposite is also considered.

Finally, it can be said that the drop in price under the sliding 200-day average indicates Rippleder Current outlook from IST declines. Nevertheless, it is expected that the price in the range between $ 0.31 and $ 0.44 will consolidate.

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