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Ripple’s price has been demonstrating a very frustrating consolidation behavior over the last 8 months. Yet, things might be about to change soon, but not necessarily for the better.
On the daily timeframe of the XRP/USDT chart, the price has been on a gradual decline recently, breaking below the $0.5 level and falling as low as $0.37. However, the $0.4 support zone has prevented a daily candle close below the area and is currently holding the market. In this case, a recovery toward the $0.5 level could be expected in the short term. Yet, if the level breaks down, the price will likely crash even lower.Things are slightly better on the XRP/BTC paired chart, as Ripple has shown more resilience compared to Bitcoin during the recent crypto decline.
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