Ripple (XRP) On The Edge: Will XRP Price Fall To Its Old Point?

XRP price declined to the critical point.

Ripple (XRP) suffered a serious crash with the expected airdrop day coming after a very positive November. The XRP, which went up to $ 0.77 with the FOMO before the airdrop and even up to $ 0.90 on Coinbase, is trying to hold at $ 0.50 as of the time this article was written.

XRP Technical Analysis

Experts and technical analysis data point to the XRP price approaching the edge of the abyss. One of the most important support points for XRP is known as $ 0.50 and $ 0.40. XRP price has the potential to decline to $ 0.40 in the near term, according to technical analysis, which is interpreted as a fall from the abyss.

XRP / USD technical analysis, where the descending parallel channel formation occurs, prevents the bulls from rising. When looking at the RSI indicator, it is seen that the effect of the bears is felt more than ever. If the RSI indicator returns to the oversold zone, this pattern may be disrupted, but for XRP, it does not seem possible in the near term.

Will XRP Price Fall Off The Abyss?

Looking at the chart below, it can be seen that the channel formation is worth $ 0.49 gold. The break of the $ 0.40 resistance that previously caused a sensational rise could be as a break below the $ 0.40 support right now. This will create a new channel formation, causing the price to fluctuate between $ 0.40 and $ 0.27.

In order to break the related bearish pattern, Ripple price has to disrupt the descending channel formation by closing daily above $ 0.5. It is seen that the lowest point of the channel coincides with the 200 SMA level and therefore the price may resist. The most important point for XRP will definitely be $ 0.60.

Is Hoping Over For XRP Price?

If the XRP / USD price can rise above $ 0.60 at the weekly point, everything will take on a different dimension and the XRP price may start to rally again. The targets of XRP price after the critical $ 0.60 point appear to be $ 0.62, $ 0.70 and $ 0.85, respectively. XRP, which previously shot up to $ 0.90, could push $ 1 in a new rally.

Meanwhile, millions of XRP transfers are remarkable. In these days when XRP whales are getting more active again than ever, anything can happen at any time. XRP investors, on the other hand, need to be ready for hard moves.