XRP on the verge of a big move around this critical level (ripple price analysis)

Ripple is currently trading with minimal volatility near the major support region of the 200-day moving average at $0.54.

Given the importance of the 200-day MA, this level is likely to hold, providing a foundation for XRP to make a recovery.

By Shayan

The daily chart

Ripple (XRP) is currently experiencing low volatility as it is near the important support region provided by the 200-day moving average (MA) at $0.54. This area has proven to be a substantial support level, with price action showing signs of sideways movement and minimal market activity.

Despite the lack of momentum, this critical threshold is expected to absorb selling pressure and attract demand, setting the stage for a potential upside rally.

The recent price action, marked by pullbacks and sideways consolidations, could be seen as a temporary retracement to this broken moving average. If XRP manages to hold support at the $0.54 level, it is likely to experience more buying pressure in the medium term, pushing the cryptocurrency towards the crucial resistance zone at $0.64, aiming to regain this level

Source: TradingView The 4-hour chart

On the 4-hour chart, XRP price continues to consolidate sideways with weak momentum. However, the decisive support region at $0.54 remains intact, acting as a buffer against further declines. The ongoing battle between buyers and sellers at this critical juncture suggests that the market is ready for a change.

If the buying pressure strengthens, Ripple could initiate a recovery aimed at the $0.64 resistance level. Conversely, if the $0.54 support is breached, the next downside target would likely be within the 0.5-0.618 Fibonacci retracement range. Price action over the next few days will be crucial in determining Ripple’s short-term trajectory.

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