📉 XRP Price Update 📉

XRP faced a September dip as the US dollar index surged, trailing the crypto market. 

Whale transfers may sway the market, but changes in XRP wallet distribution are noteworthy. 

Technical analysis hints at a bear pennant, risking $0.40, yet closes could trigger a rally to $0.54! 

Ripple (XRP) Price Prediction: Will Trouble End For XRP?

XRP price continues to melt against Bitcoin.

Although XRP, the third largest cryptocurrency by total market capitalization, reached up to $ 0.77 before Bitcoin's rally and attracted the attention of all cryptocurrency investors, it is now far, far away from that level. XRP, which is expected to go up to $ 1 in a possible altcoin rally, is trading at $ 0.58 at the time of this writing.

XRP Price Continues To Fall

Although the airdrop by the Flare Network certainly excites XRP investors, this excitement seems to be over quickly. While the Bitcoin price climbs up to $ 24,175 against the US dollar and refreshes its record 5-6 times in almost 1 week, XRP is unable to test even the all-time record, even the weekly high.

When looking at XRP / USD technical analysis , it is seen that the price is literally stuck at $ 0.60. Unless the XRP price breaks the $ 0.60 resistance, it floats towards the support points below and the non-existent buying pressure fades away. The price of XRP is likely to decline to the level of 16522 SATS against Bitcoin, which equates to $ 0.45 against the US dollar.

The Fall of XRP Could Be Very Hard

In the technical analysis of the XRP price , it is seen that the main support points are very low at $ 0.28, $ 0.26 and $ 0.24. Resistance points are much closer to XRP price and are located at $ 0.78, $ 0.80 and $ 0.82.

XRP, which has recently been on the rise, fell to its previous point on December 16 due to the $ 0.60 resistance not being overcome. Currently, the XRP price seems to fluctuate between $ 0.54 and $ 0.60. If the XRP price breaks $ 0.60 and closes daily, it can cause $ 0.78 to be seen suddenly.

The Ascension Can Be Fierce

The big green candle, which came with the bullish trend on November 24, tested the 61.8% Fibo point. If there is a break and the continuation of this candle, even the $ 0.78 level is not enough to stop XRP and a rise to the 1.618 Fibo point, or $ 1, can be experienced.

Looking at the 4-hour Ripple price chart, it is seen that the downtrend that emerged on December 15 is still effective. If Bitcoin's rise stops and altcoins take action, XRP will also reverse the trend. With the XRP price reversing the trend, its target is seen at $ 0.80 to $ 1.

XRP Coin Chart: Ripple Price Drop Deepening, Concerns Rising!

Ripple price decline continues unabated.

Ripple's rally was very short. XRP price rose from the $ 0.30 level to $ 0.78 but is now in a bearish trend again towards the $ 0.30 band.

The combination of spark airdrop excitement and positive move in the market has given XRP a serious momentum, but the excitement seems to have faded. XRP, which was traded at $ 0.4490 at the time of writing, fell to $ 0.4373 in the past hours.

Why Is Ripple Falling?

In fact, Ripple had excited investors with its recent price movements and started to compensate for its poor performance in the past three years. As is known, XRP has been in a bear market for about three years and did not react to the short-term rallies in the market. The recent spikes were thought to be the awakening of XRP, but Ripple did not act as expected.

Rising with the spark airdrop excitement, rising to $ 0.78 overall, and even to $ 0.90 on some exchanges, XRP fell after the excitement subsided. The resulting excitement also increased the technical power of XRP, but according to the latest data, XRP is losing technical power again in the days we left behind.

So the reason behind the XRP's decline is indirectly technical weakness. The technical weakness is that spark airdrop is thought to be a quench of excitement .

Important Supports Are Breaking One by One

Ripple seems to be losing key support levels one by one in addition to its decline. Looking at the current charts, $ 0.52 and $ 0.48 were very important support levels for analysts. Ripple is currently trading below both of these levels and the downward trend is likely to continue unless the price is supported by different factors in the near term.

In addition, it is thought that key support levels are likely to turn into resistance, and if this happens, further weakness may be seen.

Is there any chance of ascension?

According to analysts who evaluate the current charts, the picture looks dark for XRP in the near term . However, as always, there is a possibility for the third largest cryptocurrency to rise in terms of market volume.

Although XRP currently appears in freefall regardless of the Ethereum (ETH) and Bitcoin (BTC) price, the prices are still linked. Therefore, a serious upward upward momentum initiated by BTC and ETH may have the power to pull XRP up.

For this reason, if BTC and ETH manage to break the consolidation processes upwards, we can see the bullish charts for XRP again

Master Analyst Warns: There Could Be A Huge Drop In XRP Price

XRP failed to clear the $ 0.6150 resistance and broke a downside support at $ 0.5740 against the US Dollar, similar to Bitcoin and ETH. XRP price is likely to drop to $ 0.5100 or even $ 0.4500 , analysts say .

XRP started a major decline after it broke the key $ 0.5740 support zone against the US Dollar. The price is currently trading well below the $ 0.5740 zone and the 100 simple moving average (4 hours), according to analyst Aayush Jindal. There was a break below the $ 0.5880 support and triangle on the 4-hour chart of the XRP / USD pair. The pair could retest $ 0.5740 before extending its decline to $ 0.5000.

XRP Price Gains Downward Acceleration

After several unsuccessful attempts near $ 0.6200 and $ 0.6150, XRP price started a strong decline. Bitcoin, ETH, BCH, ADA, LINK, and many other altcoins also experienced major declines. XRP followed a similar pattern and broke a few key supports near $ 0.5880 and $ 0.5740. There was an open break below the 50% Fib retracement level of the key bullish move from the low of $ 0.4548 to $ 0.6919.

Xrp price

More importantly, there was a break below the crucial triangle pattern with support at $ 0.5880 on the 4-hour chart of the XRP / USD pair. The price is currently trading well below the $ 0.5740 zone and the 100 simple moving average (4 hours).

XRP is testing the $ 0.5450 support level. If there is a clear break below the $ 0.5450 support level, the price could continue to decline. The next major support is near the $ 0.5000 level, with the bears aiming to test the $ 0.4500 support later.

Is There a Probability of Upgrade?

If XRP starts a corrective rise above $ 0.5600, it could face hurdles. The first major resistance is near the $ 0.5740 level (the last breakout zone). The next major resistance is near the $ 0.6000 level or the 100 simple moving average (4-hour). As long as the price is below the $ 0.5740 resistance, it is at risk of further losses in the near term.

Technical Indicators

4-Hour MACD: The MACD for XRP / USD is gaining momentum in the bearish zone.

4-Hour RSI (Relative Strength Index): The RSI for XRP / USD is currently well below the 40 level.

Major Support Levels: $ 0.5450, $ 0.5200 and $ 0.5000.

Major Resistance Levels: $ 0.5740, $ 0.5880 and $ 0.6000.