1Ripple's recent downtrend persists, leading to a drop below the 100 and 200-day moving averages.
2. XRP has found support around $0.5, marked by the lower boundary of a triangle, signaling a potential short-term reversal.
3. The daily chart shows a significant decline in Ripple's price, reaching a crucial support region encompassing the static level of $0.5 and the triangle's lower boundary.
4. This support zone has effectively resisted bearish attempts over the past year, indicating strong demand near the $0.5 threshold.
5. A bullish rebound is expected for Ripple, targeting a retracement towards the broken 100 and 200-day moving averages.
6. If sellers gain dominance, a breach below $0.5 could extend the existing downtrend.
7. The 4-hour chart highlights the prevailing
influence of sellers despite a slight breach of a Y pivotal support region defined by an ascending
8. The breakout is yet to be confirmed as valid, and caution is needed due to the potential for a false breakout, often designed to liquidate long positions.
9. In the case of a valid pullback, the price may initiate a renewed bearish leg, targeting the $0.47 support region.
10. Continuous monitoring of these critical levels is crucial for anticipating potential market movements and assessing the strength of Ripple's current trend.
