After a period of steady price movements, Ripple has finally moved - toward a bearish trajectory. This decline has led to a breakdown below a critical
After a period of steady price movements, Ripple has finally moved – toward a bearish trajectory. This decline has led to a breakdown below a critical support zone defined by the 200-day moving average.A closer look at the daily chart shows a notable drop in XRP price due to elevated selling pressure and an increasing bearish sentiment.
However, a sudden rebound pushed the price back above the 200-day moving average , only to reencounter rejection, leading to another dip below the significant MA. This particular support area carries substantial weight, and if support holds, it has the potential to halt further declines. Nonetheless, this breakout will only be confirmed once the price retraces to retest the broken trendline and forms a pullback. Such a scenario could potentially drive the price towards lower thresholds, with the likelihood of a drop towards the static support at $0.42 increasing.
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