XRP, stuck in the support zone, started to ring alarm bells with the decline of BTC.
XRP, which has been moving within two important EMAs for a long time, started its downward movement with the influence of BTC. XRP lost $0.50 support with the instant BTC decline.
XRP, which is priced according to the progress of the case between the SEC and Ripple, has exhibited very quiet activity in recent days. Staying within the 50-day and 200-day EMA, XRP started a downtrend towards the $0.4750 support zone.
XRP chart analysis
XRP, which exceeded $ 0.93 in July with the development in the SEC and Ripple case, is trying to hold on to $ 0.50 these days. It seems that XRP, which has fallen greatly, is in the decision phase.
There is a big war going on over $0.50, which is the critical threshold for XRP. XRP, which has not yet gained its potential purchasing power, has not been able to lift its head from the support point. Finally, the BTC drop on October 9 also negatively affected XRP.
XRP, which looks far from recovery on the daily chart, continues its downward trend. If the popular cryptocurrency XRP fails to gain the $0.50 support, it may decline to the support located in the $0.4745 region.
XRP needs two important drivers to rise. These may be the positive development in the Ripple and SEC case and the process of BTC greening the market. However, these days, when both factors are not yet possible, XRP needs to find buyers in the support zone. If buyers fall short, XRP’s first decline could be to $0.4745 and its second pullback to the $0.45 region.
In the possible recovery, the $ 0.52 and $ 0.54 bands stand out for XRP. If these resistance zones are overcome, the next target for XRP could be $0.55.
