XRP PRICE ANALYSIS CMP-$0.4820: Bears roars below $0.50

XRP is facing difficulties below $0.520 against the Dollar.

Ripple's price has shown a lack of bullish momentum and has remained stagnant, undergoing a consolidation phase for several months. The same situation applies when trading against Bitcoin.

Unlike Bitcoin, Ripple is facing difficulties below $0.520 against the US Dollar. For XRP to maintain a bullish zone, it needs to stay above the $0.472 support level.

On The Daily Chart

After encountering a significant rejection at the $0.60 resistance zone a few weeks ago, Ripple's price is currently receiving support at the $0.48 level, coinciding with the 50-day moving average. Breaking below this level would lead to targeting the $0.43 resistance and the 200-day moving average at a similar price. A probable scenario would involve a rebound from this area.

On The 4-Hour Chart 

XRP is currently trading near the lower boundary of a parallel channel on the 4-hour chart. On June 22nd, XRP briefly broke above the upper channel but failed to maintain the momentum, suggesting a dominant bearish sentiment over bullish. Upon analyzing the 4-hour chart, both the RSI and MACD indicators appear to be consolidating. 

According to Price Analysis, Market capitalization of XRP is around $25,228,943,956. Additionally, the trading volume over the past 24 hours has been approximately $638,007,965.

KEY LEVELS :

RESISTANCE LEVEL : $0.4950-$0.5150

SUPPORT LEVEL : $0.4700-$0.4500

A bearish pattern has recently emerged, causing the price of $XRP to surge towards a rally with a target of $0.40. In light of this development, many investors may wonder if now is the opportune moment to exit the market. Furthermore, there is speculation about whether the bears will drive the price down to the lower channel in the coming days. Please share your thoughts and opinions on this matter in the comment box below.

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.