Ripple is currently trading with minimal volatility near the significant support area of the 200-day moving average at $0.54.
Given the importance of the 200-day moving average, it is likely that this level will hold, setting the stage for a recovery in XRP.
XRP Analysis
Author: Shayan
Daily chart
Ripple (XRP) is currently experiencing low volatility as it hovers around a significant support area represented by the 200-day moving average (MA) at $0.54. This area has proven to be a significant 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 bullish rebound.
The recent price action, marked by corrections and sideways consolidation, can be seen as a temporary pullback to this broken moving average. If XRP manages to hold support at $0.54, it is likely to experience increased buying pressure in the medium term, pushing the cryptocurrency towards the critical resistance zone at $0.64 with the aim of reclaiming this level.
4 hour chart
On the 4-hour chart, XRP price continues to consolidate in a sideways trend with weak momentum. However, the crucial $0.54 support area 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 shift.
If buying pressure intensifies, Ripple could begin a rally targeting the $0.64 resistance level. Conversely, if the $0.54 support is broken, the next downside target is likely to be in the 0.5 to 0.618 Fibonacci retracement range. Price action in the coming days will be critical in determining Ripple’s short-term trajectory.
