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Ripple has found strong support within a critical price range, defined by the 100-day and 200-day moving averages, experiencing a significant bullish rebound.
An in-depth analysis of Ripple’s daily chart reveals that it encountered substantial buying pressure at a key support zone between the 100-day and 200-day moving averages. This surge in demand triggered a notable price recovery from the $0.53-$0.55 range, pushing XRP higher. The price is now trending toward the critical resistance level of $0.64, a zone that has repeatedly challenged Ripple’s buyers in recent months.
Ripple is now climbing toward the upper boundary of the flag at $0.62, a key level in this pattern. The descending flag pattern is a well-known bullish continuation movement if it is breached from its upper boundary.
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