Ripple (XRP) Price Analysis & Prediction: Will XRP Break the Downside or the Upside?

On the daily chart, Ripple (XRP) has been settling in a sideways triangular formation that indicates a balance between buying and selling pressures

The daily chart shows Ripple (XRP) forming a sideways triangle pattern, indicating a balance between buying and selling pressures and uncertainty in the overall trend direction. Sellers are encountering strong resistance at the $0.47 lower border of this pattern, which the price recently touched upon.

However, strong holding of this support range since May 2023 suggests sustained demand and strong buying pressure. This aligns with the mid-term bullish reversal, which could lead to minor bullish moves toward the upper triangle edge.

On the 4-hour chart, XRP price forms a bearish continuation flag pattern, characterized by a brief phase of lateral movement and choppy price activity near the critical $0.47 support zone. The price dropped recently to the key $0.47 support and the lower trendline of the pattern.

Should sellers manage to cross this level, a major and swift decline is anticipated. However, the MACD indicator, which turned green recently, suggests a potential bullish bounce back.

This indication and the present demand around this crucial support suggest more buying pressure and the possibility of a mid-term bullish reversal.

As of writing, XRP price is trading at around $0.4722, down by 0.57% over the last 24 hours, according to CoinMarketCap. Earlier, CNF covered Ambassador Bitrue, King Karan, who made a compelling case for XRP, emphasizing that ignoring this cryptocurrency would be the biggest mistake.

On the other hand, XRP and Cardano face challenges in ETF adoption, according to GSR research. GSR takes a critical approach to examining decentralization, focusing on aspects such as permissionless participation.

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