XRP drifts away from $ 0.4, but is there another crash? (Ripple price analysis)

XRP drifts away from $ 0.4, but is there another crash? (Ripple price analysis)

rippleder price of has been inactive in the last few days, was traded within the tight range of $ 0.42 and $ 0.31 and fights to break out. A slight decrease in the direction of the lower end of the range seems likely, since the cryptocurrency has recently been rejected at a decisive level of resistance.

technical analysis

of Shayan

the daily -type

rippleder Price showed signs of weakness and printed small candles without a specific direction. Finally, the price tried to reach the descending trend line at $ 0.433 and failed.

Due to the rejection, however, the price fell under a significant level, the sliding 200-day average, which provides a declining tendency for cryptocurrency. Still, Ripple tested the broken moving average again and formed a sweater, which confirms that the trend has declined until the price recaptured the level.

Nonetheless, in the event of a declining rally, 0.32 $ will act as a main support for the price and must be monitored.

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The 4-hour diagram

As the diagram shows, XRP plunged under the middle border of the rising price channel for several months and formed a sweater to test it again. A sweater on a opened level is essential to confirm the outbreak and continuation of the trend.

Therefore one can assume rippleder view of is currently declining, followed by a low volatility of the course. This scenario will change if the cryptocurrency breaks through a significant level and returns sufficient demand and sufficient trading volume.

Nonetheless, Rippledie Next support of the lower trend line of the channel and the considerable level of $ 0.31 afterwards.

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