Ripple (XRP) price has been showing signs of weakness lately. Let’s look at the next bearish target and detailed Ripple technical analysis for XRP price losing the critical $0.5 support.
Ripple technical analysis: What happens to the XRP price?
Ripple (XRP) has been giving signs of weakening in recent days. The XRP price, which was rejected from important levels, also created a fake bull break against the BTC parity.
If we look at the XRP/USDT chart, we see that Ripple price has been rejected from the critical level in front of it several times. XRP price has been decisively rebuffed several times from the $0.60 level.
Below is the first potential support level at the 50-day moving average (MA). This line is around $0.45. Very close to this is the $0.43 static support level and the 200-day moving average. Both are around the same price level. Although these supports seem strong, the recent price reversal points to a problematic situation for the bulls.
That means this. There is a risk that the XRP price will oscillate below the mentioned supports. Especially losing the $0.50 support indicates that the bears are starting to gain strength.
XRP price is not looking good against BTC either. Here, too, while the rises are blocked, Ripple has to settle for lower levels.
Of course, it’s not just XRP that has fallen in recent days. Leading cryptocurrencies Bitcoin and Ethereum prices also saw sharp downward decreases. For detailed BTC and ETH analysis, see:
