The reason why XRP crashed 6% in the last 24 hours

Ripplrice has recovered recently, spreading optimism among market participants and XRP investors.

Ripple Price Analysis

By TradingRage

The USDT Paired Chart

Looking at the daily time frame of the XRP/USDT chart, the price has rallied from the $0.4 support level with momentum. It has recovered $0.5 and the 200-day moving average, located around $0.55.

The market is currently testing the $0.6 resistance. While the price is gradually rising above the level, the RSI is showing a bearish divergence from recent price highs. Therefore, a short-term correction could be expected.

The aforementioned bearish divergence painted by the RSi could also be part of the reasons why the price of XRP fell by around 6% in the last 24 hours.

Source: TradingView The BTC Paired Chart

Looking at the BTC paired chart, XRP has recovered the 800 SAT level and is also breaking the 200-day moving average on the upside. If successful, the market could rally towards the 1200 SAT resistance level in the near term.

With the relative strength index showing values ​​above 50%, market momentum is also in favor of a higher bullish move for Ripple against Bitcoin.

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