Is a Huge Crash to $0.43 Coming for Ripple? (XRP Price Analysis)

Is a Huge Crash to alt=


Ripple’s price has been trending down over the past few days. The market is targeting key support levels against both USDT and BTC.

Technical Analysis

By Edris

The USDT Paired Chart

Against USDT, the price has been declining since the rejection from the $0.55 resistance area. It has also broken below both the 50-day and 200-day moving averages, which are located around the $0.5 and $0.54 levels, respectively.

The RSI indicator is showing values below 50%, indicating bearish momentum. Consequently, a drop toward the $0.43 support level appears likely in the short term.

Source: TradingView

The BTC Paired Chart

The situation looks worse against BTC. The 50-day and 200-day moving averages are converging around the 1900 SAT level, potentially leading to a bearish crossover with the 50-day dropping below the 200-day. Moreover, the 1800 SAT support level seems to be breaking downwards, which could result in a rapid decline towards the 1600 SAT area.

Similar to the USDT paired chart, the RSI again suggests that momentum favors the sellers, making a bearish continuation more probable than a rebound.

Source: TradingView

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source link

Leave a Comment