XRP Bull Run nowhere to be seen as Bears Eye $0.5 Next: Ripple Price Analysis

The price of Ripple has yet to show a sign of recovery and continues its overall downward trend. If things are to change, the price should start its recovery soon, as the market is in a critical area.

Technical Analysis

By TradingRage

The USDT Paired Chart

Against the USDT, XRP has aggressively fallen below the 200-day moving average around the $0.6 level and has yet to break above it. However, the $0.5 support zone has held the price and the market is consolidating above it.

If the price breaks above the 200-day moving average, investors can be hopeful that an uptrend will finally begin. On the other hand, a break of the $0.5 level can exacerbate the bearish trend and the market could drop to much lower values.

Source: TradingView The BTC Paired Chart

Looking at the daily time frame of the BTC pair, the price has been making lower highs and lower lows since the beginning of 2024. However, the 800 SAT support zone has recently held the cryptocurrency, preventing it from a correction additional

The relative strength index is also seeding values ​​below 50%, but is experiencing a recovery. If the RSI rises above 50%, the market could finally start its rally towards 1200 SAT.

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