XRP bulls try to recapture $0.50, but is a major crash imminent? (Ripple Price Analysis)

The price of Ripple has been consolidating for a couple of months, without reaching its all-time high, unlike Bitcoin. Things could get even worse if the next critical level is missed.

By TradingRage

The USDT Paired Chart

On the daily time frame of XRP/USDT, the price has been stuck between $0.5 and $0.55 since mid-April. The market recently dipped below $0.5 but is now trying to recover the level. If successful, a rally towards the 200-day moving average located around $0.55 would be expected.

On the other hand, if the price is rejected, a decline towards $0.4 would be imminent. Also, if the $0.4 level is broken to the downside, things are likely to get ugly for XRP as a crash would be highly likely.

Source: TradingView The BTC Paired Chart

The XRP/BTC pair looks the same as the market is also consolidating between the 600 SAT and 800 SAT levels.

Meanwhile, the RSI has broken above 50%, indicating that momentum is once again bullish.

If the price can break above the 800 SAT resistance level, a further rally towards the 200-day moving average located around the 1000 SAT mark would be likely in the short term. Conversely, a drop below 600 SAT could have catastrophic consequences.

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