More Pain for XRP Likely as Sellers Target $0.50: Ripple Price Analysis

Ripple has presented a solid bearish signal by breaking below the 200-day moving average of $0.55, highlighting the presence of sellers in the market.

However, the price is now struggling to breach the 100-day MA at $0.53, and a successful break below this level could lead to significant downside in the coming days.

By Shayan

The daily chart

A detailed analysis of the daily chart reveals that Ripple has been hovering near the critical 200-day moving average at $0.55 and has recently fallen slightly below this level. The price is now in a key support region, defined by the 100-day moving average of $0.53, which acts as a key barrier.

The overall daily outlook will turn bearish if Ripple breaks below this level. If buyers defend this zone and hold the price above the two daily MAs, there is the possibility of a bullish reversal. However, based on current price action, a break below $0.53, leading to a further decline, seems more likely.

Source: TradingView The 4-hour chart

On the 4-hour chart, Ripple remains within a crucial range, with support at $0.53 and resistance around $0.64. Current price action suggests that sellers are increasingly interested in breaking below the $0.53 support area, which could lead to a significant price drop.

Ripple is currently testing this lower limit and a break below it, along with the lower limit of the wedge, may trigger a liquidation event, pushing the price lower.

In this case, the next downside target is between the 0.5 and 0.618 Fibonacci retracement levels. Alternatively, if buyers intervene and defend the $0.53 level, a bounce towards the $0.60 mark could follow.

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