XRP Poised For Massive Volatility If $0.5 Holds (Ripple Price Analysis)

Ripple’s price has been consolidating over the past few weeks, unable to continue its recovery. However, there is still a chance that the market will go higher.

Technical Analysis

By TradingRage

The USDT Paired Chart

On the USDT paired chart, the price has recently bounced back from the $0.4 support zone and moved above the $0.5 level. However, the 200-day moving average, located around $0.6, is still intact.

Currently, the price is falling towards the $0.5 level once again. If the level holds, XRP could rise towards the 200-day moving average. However, with the RSI showing values ​​below 50%, market momentum is still in favor of a bearish move.

Source: TradingView The BTC Paired Chart

Looking at the chart against Bitcoin, it is clear that the downtrend in the market has finally stopped, with the 800 SAT level preventing the price from going lower. Meanwhile, the relative strength index has been hovering around the 50% level, indicating that the market is in balance.

If the 800 SAT area holds, investors can be optimistic that the price of XRP could rise towards the 1200 SAT resistance level and the 200-day moving average located around the same mark. However, even though the cryptocurrency remains below the 200-day moving average, the market trend cannot be considered bullish.

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