XRP price showed minimal volatility near the significant support area of ​​the 200-day moving average at $0.54.

Given the potential demand at this critical juncture, a period of sideways consolidation is expected, with Ripple likely moving towards the $0.64 resistance area in the short term.

XRP Analysis

Author: Shayan

Daily chart

Ripple price is showing minimal volatility near the critical support level of the 200-day moving average at $0.54. After a slight deviation from the significant resistance zone of $0.63, it has pulled back to support around $0.55. This coincides with the 200-day moving average, offering a solid basis for the price.

The cryptocurrency currently appears to be consolidating, with no indication of its next direction. The price remains within a crucial range, capped by the $0.63 resistance and $0.55 support levels.

Given the current conditions, a period of sideways consolidation in this range is expected in the short term. A final breakout in either direction will likely determine Ripple’s next significant move.

4 hour chart

The 4-hour chart further highlights Ripple’s recent correction phase, showing a bearish corrective move characterized by weak momentum.

The price is currently at an important support level around the $0.55 level, which has historically provided stability. XRP is also within a descending flag pattern, which suggests potential for a bullish continuation if the price breaks above the upper boundary of the pattern.

Currently, a tug of war between buyers and sellers is unfolding around the $0.55 mark. Price action points to a possible resumption of buying pressure in the coming days, potentially leading to a rally targeting the key resistance level of $0.64.

However, if the price unexpectedly breaks below this support level, the next target will most likely be in the 0.5-0.618 Fibonacci retracement range.