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Ripple Price Prediction: XRP Bounces Above $0.50, But Will A Huge Dump Follow?

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Ripple Price Prediction: XRP Bounces Above $0.50, But Will A Huge Dump Follow?
Ripple Price Prediction: XRP Bounces Above $0.50, But Will A Huge Dump Follow?

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In late August, Ripple fell below its 200-day moving average. In the following days, it experienced a rebound and rallied back toward the 200-day MA. Market sentiment appears to be bearish, suggesting a pullback is in progress.

Here is the Daily chart

The daily chart shows a strong downtrend followed by several weeks of consolidation. The consolidation followed a rapid rally above the 200-day moving average (MA) in mid-August. Ripple‘s price displayed low volatility during this consolidation period. Over time, however, the price fell below the 200-day MA, which was $0.51.

Most people consider the 200-day MA a key support or resistance level. As a result of the price dropping below it, the prevailing bearish sentiment in the market is evident, with a potential downward trend continuing.

The overall outlook for Ripple remains highly bearish despite the modest upward retracement to the breached MA. The next target will likely be the critical support zone at $0.42. The 200-day MA must not be reclaimed if the pullback continues.

Source: Tradingview

Four-Hour Chart

We can observe a well-defined multi-month downtrend in Ripple’s price on the 4-hour chart. This trend is characterized by the near-constant drop in highs and lows, which emphasizes the strength of the bearish movement.

Recently, however, there has been a notable development. After breaking above the downtrend line and pulling back, the price has surpassed its previous swing high, creating a new higher high.

Price action in this market has temporarily shifted the trend and brought the price closer to the 200-day moving average (MA), potentially setting up a pullback toward it.

It may signal another bearish move if the price faces rejection around this crucial price range and starts to decline.

In contrast, the scenario could shift toward bullish if buyers push the price above this critical threshold and sustain upward momentum. A breakout will only be confirmed if the price retraces and retests the breached moving average, forming a pullback. This scenario could result in the price moving towards higher levels, with a surge possible to $0.55. Keeping an eye on these price fluctuations as market dynamics change is fundamental.

Source: Tradingview

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