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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.

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Crypto Vira
Crypto Virahttps://coinotag.com/
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.
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