<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.

Circle to end USDC support on Justin Sun’s Tron Network

Top Blockchain Security Companies for Robust Protection

Crypto Trader Says AI Altcoins Are the ‘Ones To Focus On,’ Pinpoints Entry Prices for Three Projects

Bitget Lists Autonolas (OLAS) Token to its Trading Platform

Increasing Daily Transactions on the Shibarium Network: Will SHIB Price Rise?

Bitcoin Rebounds Following Key Economic Reports

Join our free newsletter for daily crypto updates!