Ripple's price has been consolidating sideways near a significant support level marked by the 100 and 200-day moving averages. This has led to expectations of a modest bullish reversal in the medium term.
Ripple has recently exhibited subdued price movements, characterized by a period of quiet sideways consolidation.
Upon careful examination of the daily chart, it becomes evident that following a recent substantial decline, the price has settled around a pivotal support region encompassing the notable 100 and 200-day moving averages, currently situated at $0.58. Consequently, a period of sideways movement is anticipated in the short term as the price oscillates near this crucial level, ultimately propelling it towards the critical resistance at $0.66. Ripple’s long-term trajectory appears to be consolidating within a decisive range, with $0.7 serving as a crucial resistance and $0.58 as a significant support until a breakout occurs.
Ripple XRP Price Support Level Moving Averages Bullish Reversal Consolidation
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