XRP Price Forecast After the Sharp Fall

XRP Price Forecast: What Lies Ahead After the U-Turn?

The first significant selling pressure wave since the start of the market’s rise hit XRP. The asset has lost about 7% of its value, and things could get worse if there isn’t any quick support below the price.

• This level is significant as a psychological barrier for traders, represented by the 50-day moving average.
• Should XRP be able to hold onto its position above this barrier, it might even be able to rise again.
• If the selling pressure continues, this support might not hold.

XRP Price Prediction: Struggle Between $0.50 and $0.55

Next is the $0.50 support level. The 100-day moving average shows a stable level of support during downtrends at this price. This level might serve as a safety net to prevent additional losses if XRP falls below $0.55. In an attempt to bring the price back, traders usually look for purchasing opportunities at these levels.

If XRP continues to hold above the $0.55 support level, a consolidation period may follow, with a potential rally toward the $0.65 resistance level thereafter. If this barrier is broken, testing higher levels around $0.70 would be feasible. Should XRP fail to maintain support at $0.55 and $0.50, we can see more drops toward $0.45 or even below.

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