đ„Hot off the press!đ„ Ripple (XRP) is in a bit of a pickle, folks! Sellers have been trying to push the price below the critical $0.47 mark and the lower boundary of a triangle pattern for quite some time. đ
The daily chart shows that this crucial zone, which includes the $0.47 static support and the dynamic support of the triangleâs lower boundary, has been a strong support for XRP since mid-April. đ
However, given the overall bearish sentiment in the market, a bearish breakout could lead to a substantial crash, liquidating many long positions. đ± But don't lose hope just yet! If market activity remains low, there's still potential for the current consolidation stage to continue with minimal volatility. đ
On the 4-hour chart, recent price action indicates that sellers gained momentum, pushing XRP below the flagâs lower boundary. This suggests a bearish market state, with sellers eager to drive the price toward lower thresholds. đ
Ripple is currently hovering around a critical support region at $0.47. If sellers breach this crucial mark, a massive plummet is likely. However, Rippleâs upcoming trend direction will depend on the price action near this crucial support zone. đą
Stay tuned, crypto enthusiasts! đ