Is XRP Heading For A Crash Below $0.50?

Ripple recently encountered significant selling pressure near the $0.65 resistance zone, leading to a sharp decline.

This move indicates a potential shift into bearish dominance as price breaks below the lower boundary of the ascending wedge pattern. XRP may continue its decline towards the $0.5 threshold in the coming sessions.

By Shayan

The daily chart

On the daily chart, XRP surged towards the upper boundary of the ascending wedge and the primary resistance zone at $0.65, only to face a substantial rejection.

This area, aligned with previous swing highs, is a formidable resistance level and has stopped further price increases in recent months. After the rejection, Ripple entered the crucial $0.5-$0.55 price range, where a short-term consolidation is likely to occur.

Given the break below the lower trendline of the ascending wedge, a bearish continuation is expected. If XRP attempts a pullback to retest the broken wedge, the price could face more selling pressure, which could drive it towards lower thresholds, especially the $0.5 support level.

Source: TradingView The 4-hour chart

The 4-hour chart reveals a false breakout after Ripple briefly broke above the $0.65 level. This move generated substantial demand, but the increase was met with intense selling pressure, leading to heavy investment.

XRP price quickly fell back inside the flag pattern it had exited from.

The cryptocurrency is currently testing a critical support region marked by the lower flag trendline and Fibonacci retracement levels of 0.5 ($0.52) and 0.618 ($0.48). This range is expected to hold the price temporarily, triggering a potential short-term bullish corrective move and sideways consolidation before the next major trend direction is established.

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