Ripple (XRP) Price Falls Below $0.60: Is the Bullish Run Over?

Ripple (XRP) has seen a sharp decline, currently trading at $0.57 after losing about 2% in the last 24 hours. This downturn comes as the token falls below key technical levels, including the 20-day EMA, which signals a weakening uptrend.

A recent drop in network activity also adds to the bearish sentiment. Active addresses have decreased by 18%, and new addresses by 8%. XRP is also now below the green line of the Ishimoku cloud, increasing the risk of a further decline.

If XRP slips below the red line of the Ishimoku cloud, we could see increased selling pressure, potentially pushing the price down to $0.38, the low from August 5. However, a resurgence in demand could help the token reclaim the $0.60 resistance and move up to $0.74 if it breaks out of its current trend.

Ripple's path forward depends heavily on market demand and overcoming these critical resistance levels. A failure to do so may lead to further downside, while renewed interest could spark a bullish revival. $XRP

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