- XRP’s rate fell by 0.3% in the last 24 hours, signaling bearish sentiment.
- The price is nearing support at $0.48, a critical level for potential further decline.
- Traders are watching for a breakout at $0.4860, which could lead to a test of $0.48 to $0.482.
The rate of XRP has faced a 0.3% dip over the past 24 hours, triggering concerns among traders and investors. This dip is part of a larger trend that has left the XRP market more bearish than bullish on the local chart. The current price positioning is dangerously close to the support level, raising alarms about a potential further decline.
Read CRYPTONEWSLAND on
google news
One key area to watch is the $0.486 zone, as a breakout from this level could lead to a test of the $0.48-$0.482 range. Traders are keeping a keen eye on this critical juncture, which could determine XRP’s short-term trajectory.
Zooming out to a larger time frame, the focus shifts to yesterday’s low at $0.4850. Maintaining the rate above this mark is crucial for the bulls, as a failure to do so could result in a swift descent towards the support level.
In a glimmer of hope, XRP may have found a support level at 0.0000169. However, the key factor to watch is the closing price. If it strays significantly from this level, a potential rebound to the 0.0000175 area could materialize.
Despite the challenges, XRP enthusiasts remain optimistic about its future. As of now, XRP is trading at $0.488, and its ability to navigate through these turbulent waters will shape its trajectory in the ever-evolving crypto landscape.
Read also:
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
