XRP falls by 8 %weekly, but is a crash below $ 0.4 is imminent? (Ripple price analysis)

XRP falls by 8 %weekly, but is a crash below $ 0.4 is imminent? (Ripple price analysis)

rippleder price is currently near a decisive support area, which consists of both the sliding 200-day average and the price zone of $ 0.41. A breakthrough under this critical level could possibly trigger a significant downturn towards the descending trend line.

technical analysis

of Shayan

The daily chart

on the daily chart can be seen that the price after the last weeks of rejection has achieved a strong support area with the sliding 200-day average of $ 0.41. In view of the strength of this moving average, XRP could enter a consolidation phase.

If the price cannot stay above this important support zone, this could trigger a cascade that leads to a declining market mood. However, if the cryptocurrency finds support in the sliding 200-day average, buyers can hope for a medium-term upward trend towards the resistance level of $ 0.56.

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The 4-hour diagram

on the 4-hour chart: Rippleder Price has formed an ascending channel. The most recent rejection has led to the course under the small level of support of $ 0.48 and the medium trend line of the canal. The price is currently $ 0.41 before a decisive level of support.

In summary, it can be said that this PA supports a potential consolidation phase around the area mentioned until it comes to an outbreak. However, it is important to see how the price will actually react, since this would probably give us an indication of the short -term trend.

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