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Ripple’s price is experiencing low volatility, stuck between the $0.5 support and resistance near the 200-day moving average at $0.54.
On the daily chart, XRP’s recent rejection at the 200-day moving average of $0.55 led to a decline toward the $0.5 support level. However, trading activity has since slowed, with the price consolidating and displaying minimal volatility near this support region. Ripple is currently trapped by a critical range between $0.5 and $0.54 , suggesting that the market is awaiting a stronger catalyst to drive the next move. For now, continued consolidation within this range is expected, and a breakout could indicate the direction of XRP’s mid-term trend.On the 4-hour chart, Ripple’s indecision is evident, with the asset confined to a crucial zone between the 0.5 and 0.618 Fibonacci retracement levels.
Descending wedges often signal a bullish reversal when broken to the upside, but in the absence of sufficient buying pressure, Ripple may remain within the wedge for the short term, continuing its sideways consolidation and reflecting the current standoff between buyers and sellers. A breakout from the wedge pattern, especially to the upside, could attract renewed buying interest, while a downside break below $0.5 would likely confirm a bearish trend.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.
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