<figure> 
 <figcaption>
  Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<p dir="ltr">As we witness a recent breakdown in <a href="https://u.today/ripple-ceo-weighs-in-on-xrp-etf-rumors">XRP's</a> price, here are three pivotal price levels that could serve as markers for the asset's short-term trajectory.</p>
<h2 dir="ltr" id="50-ema-standoff">50-EMA standoff</h2>
<p dir="ltr">XRP's immediate battleground is the 50-day EMA, a commonly watched technical indicator that serves to assess the asset's momentum over a median term period. Currently, <a href="https://u.today/xrp-price-prediction-for-february-20">XRP</a> finds itself grappling at this juncture, making it a decisive point for either a rebound or a further descent. The 50 EMA acts as a dynamic support level which, if breached, could lead to an accelerated sell-off.</p>
<img alt="XRPUSDT Chart" data-entity-type="file" data-entity-uuid="1504d5dc-9ee0-4a0a-a1d0-951b16bbded6" src="https://u.today/sites/default/files/inline-images/image_500.png"><a href="https://www.tradingview.com/">XRP/USDT Chart by TradingView</a>
<h2 dir="ltr" id="half-dollar-psychological-and-technical-threshold">Half-dollar psychological and technical threshold</h2>
<p dir="ltr">The $0.50 level stands out not only for its psychological significance as a round number but also for its historical role as a flip zone. This price point has previously acted as a reversal region, suggesting that buyers have stepped in at these levels before, potentially viewing it as a value area. A retest of this level could either reinforce it as a strong support or, if broken, could confirm bearish sentiment on the market.</p>
<h2 dir="ltr" id="0-41-line-in-sand">$0.41 line in sand</h2>
<p dir="ltr">Dipping further, the $0.41 level is a critical multi-year bottom that may serve as a last resort for bullish hopes. This level's significance is underscored by its historical precedence; any slip below this could point to a loss of investor confidence and potentially trigger a more profound capitulation.</p>
<p dir="ltr">In terms of resistance, specific levels to watch for include the recent local highs. If <a href="https://u.today/xrp-price-prediction-for-february-20">XRP</a> attempts a recovery, it will first need to overcome immediate resistance near the $0.55 zone, which could act as a ceiling for any upward moves. Beyond that, the $0.60 level is likely to serve as the next significant hurdle, being a previous area of interest.</p>
<p dir="ltr">If <a href="https://u.today/60-million-xrp-sent-to-unknown-amid-xrp-community-concerns">XRP</a> fails to hold these support levels, a bearish scenario could unfold. A breach below the 50 EMA may set off a domino effect with some substantial liquidations, with the price potentially spiraling down to test the $0.50 support. If this psychological and factual support gives way, the door would be open for bears to target the $0.41 multi-year bottom.</p>

Three XRP Price Levels to Watch After This Breakdown

Table of Contents

U_Today

Другие статьи, опубликованные 21 февр. 2024 г.

VanEck’s Bitcoin ETF explodes 2200%! BlackRock in panic!

Why is Solana (SOL) price down today?

BlockDAG Craze Sinks Solana and Retik Finance with 1000x ROI Potential

Fetch.ai Soars Amid Major Exchange Announcement; Top Analyst Says FET is ‘Trying to Print New ATH...

Chainlink Surges 175% as Mysterious Whales Shift Millions of LINK

Is Ethereum Overvalued, Similar ‘To Meme Coins Like Shiba Inu’?

Join our free newsletter for daily crypto updates!