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Ripple’s price has recently experienced a significant decline, just as market participants were becoming optimistic about the beginning of a new bullish run.Against USDT, the XRP price broke above the $0.6 resistance level last week. Unfortunately,, it failed to hold above, and it crashed rapidly below the level and the 200-day moving average, located around the $0.55 mark.With the RSI also below 50%, the momentum is bearish, and a decline toward the $0.5 level is expected in the short term.
If the 800 SAT level is also broken to the downside, a further downtrend toward the 600 SAT support zone is probable in the coming weeks. With the RSI also showing bearishness in momentum, it seems likely that the market will plunge even further. However, things can quickly change if the 800 SAT level remains intact.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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