Ripple (XRP) price has fallen below two important support levels and is in a dangerous position.
According to an analysis by U Today, things are getting serious for the XRP price. XRP rang alarm bells by falling below the 50 EMA (Exponential Moving Average). With this decline, XRP is showing activity right above the 200 EMA. If this region is lost, there may be a big decline for XRP.
Ripple (XRP) fell by nearly 5 percent!
Recently, an important decision emerged from the case between the SEC and Ripple. The judge in the case, Analisa Torres, denied the SEC’s request. With this news flow, there was a huge rise on the XRP side. However, since the rise occurred with the ‘buy the news and sell the expectation’ model, the decline was not delayed.
XRP, which exhibited price mobility above $ 0.50, dropped to $ 0.5477 due to the news of the lawsuit. While everyone was waiting for a new XRP bull, the price retreat was not delayed. XRP surprised investors by dropping a needle to $0.52 just an hour after the day’s peak. In the next one-hour candle, it was seen that XRP rose again to $ 0.5350. After hours of volatility, XRP lost the 50 EMA and dropped a needle to $0.52. Afterwards, activity started for the 200 EMA.
It is thought that if these regions are lost, XRP may move towards $0.50 and seek support from this region. However, if XRP recovers and the 200 EMA is maintained, the price may move back to the $0.54 band. Once this zone is crossed, XRP’s direction will be $0.59.
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