XRP Loses Critical $0.5 Support Level, Here’s the Next Bearish Target (Ripple Price Analysis)

XRP has lost its critical support level of $0.5 and is now approaching its next bearish target. This Ripple price analysis highlights the current state of XRP and its potential outlook, providing valuable insights for investors and traders looking to make informed decisions. The article discusses the technical indicators and factors that have contributed to XRP’s recent decline, as well as the support and resistance levels that investors should keep an eye on. By understanding the current market conditions and the potential impact of upcoming events, investors can take advantage of opportunities to buy or sell XRP.

XRP price has been facing downward pressure lately, as it experienced a significant rejection against USDT and formed an invalid bullish breakout against BTC.

Technical Analysis

According to Edris, XRP/USDT’s daily chart shows that the price has been decisively rejected to the downside from the $0.60 resistance level. The 50-day moving average is the first support level, located around the $0.45 mark, followed by the $0.43 static resistance level, and the key 200-day moving average. Although there are strong support levels, the recent bearish rejection might still be concerning for the bulls.

On the other hand, looking at the XRP/BTC daily chart, it is evident that XRP has repeatedly failed to break above the large descending channel pattern. Even after the initial rejection from the 200-day moving average, it created a fake bullish breakout and dropped back into the channel.

However, the 50-day moving average is currently holding around the 0.000017 SAT mark, providing support. Although both the higher boundary of the channel and the 0.000018 SAT resistance level are trying to push the market lower, if the 50-day moving average fails, the 0.000016 SAT support area would be the next crucial level.

If there is a bullish breakout from the channel, the price could target the 200-day moving average once again in the short-term, located around the significant psychological 0.00002 SAT resistance level.


In sum, XRP’s price has been facing downward pressure, with its resistance levels affecting its performance against both USDT and BTC. The technical analysis suggests that there are strong support levels in place, but the recent bearish rejection might still pose a challenge for the bulls. On the other hand, if there is a bullish breakout from the descending channel, XRP’s price could improve and target the 200-day moving average once again.

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