XRP Plummets Below $0.5 but Bulls Looking Eager to Recover (Ripple Price Analysis)

Following weeks of consolidation, Ripple’s price is finally showing signs of beginning a significant move. However, this is not good news, as the anticipated move seems to be bearish.

By TradingRage

The USDT Paired Chart

Against USDT, XRP has been consolidating inside a symmetrical triangle pattern over the last couple of months since dropping below the 200-day moving average.

On Friday, the market experienced a sudden drop. While the price has recovered more than half of its losses, the daily candle has closed below the triangle pattern.

With the RSI also dropping below 50%, the momentum is in favor of a bearish move, and a drop toward the $0.4 support zone would be highly probable if the $0.5 level breaks down.

xrp_price_chart_0906241
Source: TradingView

The BTC Paired Chart

The XRP/BTC pair looks even worse. The price has been trending lower since November last year, and there has been no stopping it. The market has recently failed to break above the 800 SAT resistance zone and has begun another bearish move.

The 600 SAT support level seems like a probable target in the short term, as XRP continues to depreciate against BTC.

However, investors should keep an eye on the RSI because it has entered the oversold region, which could lead to a recovery in the coming weeks.

xrp_price_chart_0906242
Source: TradingView

The post XRP Plummets Below $0.5 but Bulls Looking Eager to Recover (Ripple Price Analysis) appeared first on CryptoPotato.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Latest posts

post-thumbnail
Altcoin Season 2025: Key Insights & Top Coins to Consider
The post Altcoin Season 2025: Key Insights & Top Coins to Consider appeared first on Coinpedia F...
READ MORE
post-thumbnail
Crypto News Today, 14th March : Pi Network Price , XRP News, Bitcoin & Ethereum Price Today
The post Crypto News Today, 14th March : Pi Network Price , XRP News, Bitcoin & Ethereum Price T...
READ MORE
post-thumbnail
Why Ethereum Price is Down? When Will ETH Price Bounce Back
The post Why Ethereum Price is Down? When Will ETH Price Bounce Back appeared first on Coinpedia Fin...
READ MORE
post-thumbnail
Cardano (ADA) Price Prediction for March 14
The post Cardano (ADA) Price Prediction for March 14 appeared first on Coinpedia Fintech News ADA, t...
READ MORE
post-thumbnail
Ripple Lawsuit News: SEC to Decide if XRP Deserves Same Treatment as Ethereum
The post Ripple Lawsuit News: SEC to Decide if XRP Deserves Same Treatment as Ethereum appeared firs...
READ MORE
post-thumbnail
XRP News: New Proposal Seeks SEC Settlement with Ripple by Classifying XRP as a Payment Network
The post XRP News: New Proposal Seeks SEC Settlement with Ripple by Classifying XRP as a Payment Net...
READ MORE
Read more posts