Ripple’s price has once again disappointed investors, as the market crashed just when it began a seemingly new bull run.
XRP Price Analysis
By Edris Derakhshi (TradingRage)
The USDT Paired Chart
Against USDT, XRP has failed to stay above the $0.6 level, and it has also broken below the 200-day moving average following an unexpected crash.
The RSI also shows values below 50%, indicating that the market momentum is bearish.
If the price does not successfully climb back above the 200-day moving average, a further drop toward the $0.5 support level could be expected.
The BTC Paired Chart
Looking at the XRP/BTC pair, the market is demonstrating similar behavior.
The price has broken below the 200-day moving average and is also breaking through the 800 SAT support level. As it stands, a further decline toward the 600 SAT support zone seems more probable than any other bullish scenario.
This would change if the market breaks back above the 200-day moving, located around the 900 SAT mark.
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Cryptocurrency charts by TradingView.
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https://cryptopotato.com/ripple-price-analysis-xrp-unable-to-overcome-0-55-is-a-crash-imminent/
2024-10-18 14:07:12
