Is a big crash to $0.43 coming for Ripple? (XRP price analysis Cryptocurrency scrgruppen
The price of Ripple has been trending lower over the past few days. The market is targeting key support levels against both USDT and BTC.
Technical Analysis
by Idris
USDT Paired Chart
Against USDT, the price has fallen since the rejection from the $0.55 resistance area. It also fell below the 50-day and 200-day moving averages, which are located around the $0.5 and $0.54 levels, respectively.
The RSI shows values below 50%, which indicates downward momentum. Therefore, a decline towards the $0.43 support level seems likely in the short term.
Paired BTC chart
The situation looks even worse for BTC. The 50-day and 200-day moving averages are converging around the 1900 SAT level, which could lead to a bearish crossover with the 50-day moving average falling below the 200-day level. Furthermore, the 1800 SAT support level appears to be breaking down, which could lead to a quick drop towards the 1600 SAT region.
Similar to the associated USDT chart, the RSI once again indicates that momentum favors sellers, making a downward continuation more likely than a bounce.
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Cryptocurrency charts By TradingView.
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