How Low Can XRP Plummet if $0.50 Support is Lost? (Ripple Price Analysis)
Ripple’s price is continuing its downward momentum on both the USDT and BTC pairs. According to technical analysis, the price is yet to reach a potential turning point on either chart.
Technical Analysis
By TradingRage
Ripple Price Analysis: The USDT Paired Chart
Against USDT, the price has been trapped inside a descending channel over the last few months. Since the breakdown of the 200-day moving average (currently located around the $0.60 mark), the market has been dropping consistently.
However, XRP has yet to reach significant support. While the Relative strength index is entering the oversold region, the market is unlikely to rebound before retesting the channel’s lower boundary.
The BTC Paired Chart
Things are looking quite similar against BTC. The price has gradually declined inside a large falling wedge pattern since topping in July. The market is currently retesting the 1300 SAT support level but has not shown any willingness to rebound higher.
In case of a breakdown, the lower boundary of the falling wedge pattern would be the next target in the short term. The bearish continuation scenario seems probable,Ripple with the Relative Strength Index showing values below 50%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
PumpFun Corp Faces Legal Battles Over Alleged Securities Violations and Meme Token Scandals
Vottun Brings Tokenization to Web3 Development; Launches Flagship Low-Code Platform for Builders
Ethereum And Uniswap Had Their Transformative Runs In 2021, Its Elluminex’s Turn In 2025
Solana ETFs: How a 2025 launch could play out
Some expect a Solana ETF to be approved by the end of the year thanks to a pro-crypto Trump Administration.Defining if Solana will be classified as a commodity or security will play a major role in the ETF approval process.JPMorgan analysts projected that Solana ETFs could bring in between $2.7 billion and $5.2 billion, cumulatively, during their first months of trading.