Ripple Sitting at Long-Term Support After 30% Weekly Plunge, Rebound in Sight? (XRP Technical Analysis)

                                                            Der Markt steht aufgrund des tiefen Einbruchs der letzten Tage immer noch unter Schock.  Die Anleger sind skeptisch, und es bleibt abzuwarten, wann die Bullen an den Markt zurückkehren.

Technical Analysis

By Grizzly

The daily chart

The bears were able to sink the price to the critical horizontal support at $0.33. This level has played an essential role for since 2019 XRP.
TradingView
The strong uptrend in 2021 came after breaking this level. If the bulls can defend it, XRP can be expected to move towards the $0.5 resistance, which will be the first challenge for the bulls. However, given the macroeconomic conditions in the market, one must remain very cautious and cautious.

Key support levels: $0.23 and $0.17

Important resistance levels: $0.51 and $0.77

our recommendation

Moving Averages:

MA20: $0.56

MA50: $0.69

MA100: $0.73

MA200: $0.81

The XRP/BTC-Diagram

Against BTC, the price has lost the critical support at 1550 SATS, which is now in Resistance has transformed. Given the huge sell-off, it won’t be easy to bring the price back to higher levels. First, the pressure to sell must be reduced. Then the market usually enters an accumulation or transition phase until the next big leg. The selling pressure in the market is still present, although not as strong as in the past few days.
TradingView