If Ripple Cannot Hold onto Critical Support, It May Continue Its Downward Movement!

  • Ripple price fell after failing to break the established resistance level.
  • XRP closing below $0.47 could strengthen the downtrend.
  • Closing below $0.4574 could extend XRP’s decline to $0.42.

When examining Ripple’s daily price chart, it can be seen that the failure to break the established resistance level triggered a decline in XRP’s price. Additionally, the short position shared in the short-term analysis has provided gains for our readers.

Medium-Term Ripple (XRP) Price Analysis

Daily XRP/USD Price Chart

Daily XRP/USD Price Chart

When examining Ripple’s daily price chart, it can be seen that the failure to achieve daily candlestick closes above the important established resistance level triggered a downtrend and caused XRP’s price to drop to $0.48. Currently, Ripple’s price is moving at $0.4913.

As mentioned in the analysis, if XRP closes below $0.47, it could continue the downtrend and drop to $0.4574.

If XRP closes below $0.4574, it could extend the downtrend to $0.42.

Short-Term XRP Price Analysis

15 Minute XRP/USD Price Chart

15 Minute XRP/USD Price Chart

When examining Ripple’s short-term price analysis, the short position we mentioned in our previous analysis was executed step by step and provided our readers with a 4.40% return.

Click Here to View Our XRP Analysis from Yesterday.

XRP’s price closed below the previously mentioned $0.53 level for 30 minutes and then rose to the OTE zone.

In our analysis yesterday, we mentioned that a short position could be entered from the OTE zone and that the stop-loss level could be used at $0.5447.

With this movement, our readers who entered the short position gained profits.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news


Latest News

US Dollar’s True Nemesis: Fiscal Irresponsibility, Not Bitcoin, Warns Top Economist

According to economist Daniel Lacalle, the US dollar faces a significant threat from within due to unsustainable fiscal policies, overshadowing the perceived risk from cryptocurrencies like Bitcoin.

Bitcoin Profitability Soars to 97%, Highest in Over Two Years

Bitcoin's remarkable price surge has propelled the majority of BTC addresses into a profit zone not seen in over two years, highlighting the cryptocurrency's strong market performance and promising future.

Morgan Stanley Eyes Bitcoin ETFs for Indirect Crypto Exposure

Morgan Stanley's recent SEC filing to gain Bitcoin exposure through ETFs marks a significant step towards integrating cryptocurrencies into traditional investment portfolios, potentially boosting the adoption and price of Bitcoin.

Bitcoin ETF Surge: BlackRock and Fidelity Lead with 79% of Inflows into the ‘Newborn Nine’

This article delves into the explosive growth of Bitcoin ETFs, highlighting the market dominance of BlackRock and Fidelity, the impact of fee reductions among competitors, and the broader implications for the cryptocurrency investment landscape.

Bitcoin, The 21st Century’s Berkshire Hathaway, Says SkyBridge’s Scaramucci

In a bold statement, Anthony Scaramucci of SkyBridge Capital compares Bitcoin to Berkshire Hathaway, suggesting that the cryptocurrency holds significant long-term value and wealth generation potential akin to the conglomerate led by Warren Buffett.

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Crypto Vira
Crypto Vira
Alican is a young and dynamic individual at the age of 23, with a deep interest in space exploration, Elon Musk, and following in the footsteps of Atatürk. Alican is an expert in cryptocurrency, price action, and technical analysis. He has a passion for sharing his knowledge and experience through writing and aims to make a positive impact in the world of finance.

XRP Token Burning Hits Record High as Prices Surge!

In an intriguing development, the XRP Ledger has experienced an abnormal spike in token burning, coinciding with a robust rally in XRP prices, reflecting heightened activity and interest in the cryptocurrency.

XRP Surges Over 9%: Analysts Eye $2 Milestone Amid Altcoin Rally

This article explores the recent surge in XRP's value, surpassing the $0.64 threshold, and the optimistic projections by market analysts for its potential to reach $2, marking a significant milestone amid the altcoin rally.

Can XRP Price Reach $1? Noted Analyst Reveals Prediction!

Ripple's XRP token is trading below $0.60; what will be the next target for the XRP token? Current predictions!