Ripple price breaches 700-day trend line, signaling a gloomy picture for XRP holders

Ripple price slipped below a crucial 700-day uptrend support level on the weekly chart. Subsequent attempts at recovery have failed, leading to an ongoing consolidation. A breakdown of the current support level of $0.468 will lead to a bloodbath for XRP holders. Ripple price has been in a precarious position for nearly three weeks, leaving XRP holders wondering what could come next. Also read:XRP hovers above $0.

The same can be noticed with Awesome Oscillator’s mean level of 0. Both the momentum indicators are forecasting a shift in the market outlook favoring bears. Until the crypto market outlook improves, XRP price is in a bad spot. If Bitcoin recovers and climbs above $70,000 altcoins will see a recovery rally. In such a case, Ripple price needs to overcome the $0.532 resistance level and flip into a support floor.

Cryptocurrencies Technical Analysis

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ripple XRP Ledger enters the Japanese market through key partnership, XRP sustains above $0.50Ripple (XRP) sustained above $0.50, a key support level, on Wednesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

XRP tests resistance at $0.52 as Ripple developers propose lending on XRP LedgerRipple (XRP) has failed to close above $0.52 for five consecutive days, struggling with the sticky resistance.
Source: FXStreetNews - 🏆 14. / 72 Read more »

XRP Price Outlook: A breakout or significant price movement may be imminent for Ripple’s tokenRipple (XRP) price has been range-bound for a while, with token holders patiently holding as the ecosystem contended against the US Securities and Exchange Commission (SEC).
Source: FXStreetNews - 🏆 14. / 72 Read more »

Bitcoin (BTC) Price Decline, Shiba Inu (SHIB) Advancements, Ripple (XRP) Price Predictions: Bits Recap May 2Crypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Ripple's 800 Million XRP Escrow Lockup Failed to Reboot Price, Here's ReasonRipple's escrow activity sees major twist, 800 million XRP sent in
Source: Utoday_en - 🏆 295. / 63 Read more »

Calm Before the Storm: XRP Primed for Massive Volatility if $0.5 Holds (Ripple Price Analysis)Crypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »