{"id":37502,"date":"2022-12-08T13:39:36","date_gmt":"2022-12-08T13:39:36","guid":{"rendered":"http:\/\/egrowonline.com\/?p=37502"},"modified":"2022-12-08T13:39:36","modified_gmt":"2022-12-08T13:39:36","slug":"losing-this-support-will-the-xrp-price-drop-to-0-36-mark","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=37502","title":{"rendered":"Losing This Support, Will The XRP Price Drop To $0.36 Mark?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"post-130310\">\n<div class=\"marketThumbs\">\n<img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"801\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"xrp news\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/11\/18192715\/Ripple_image_extra-1.jpg\" \/><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"801\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/11\/18192715\/Ripple_image_extra-1.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"xrp news\" \/><\/div>\n<p class=\"MarketsUp f-14 d-block\">Published 18 hours ago <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400\">A bearish breakdown from the inverted flag pattern releases the trapped bearish momentum in the <a target=\"_blank\" href=\"https:\/\/coingape.com\/xrp-news-over-4-billion-xrp-moved-as-ripple-awaits-summary-judgment\/\" rel=\"noopener\">Ripple coin<\/a>. Currently, the altcoin is in a retest phase, trying to validate whether it can sustain this breakdown. Moreover, the XRP price may undermine the November recovery if the overall market sentiment remains bearish.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Key points:\u00a0<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">An inverted flag pattern breakdown sets the XRP price for a 6% fall.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The crucial EMAs(20, 50, 100, and 200) trading above the coin price creates multiple resistance against a price rally.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The intraday trading volume in the XRP is $2.3 Billion, indicating a 16% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><strong><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" alt=\"XRP price\" width=\"1946\" height=\"1109\" src=\"https:\/\/s3.tradingview.com\/snapshots\/n\/nBnQZSZT.png\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/n\/nBnQZSZT.png\" alt=\"XRP price\" width=\"1946\" height=\"1109\" \/><\/strong>Source- <\/span><span style=\"font-weight: 400\">Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400\">The last few week\u2019s recovery rally in the crypto market pushed the majority of altcoins to higher grounds, including Ripple(XRP). As a result, the coin price rallied from $0.322 to $0.41 high, registering a growth of 27.6%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the daily chart shows that this price recovery was a part of a <a target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/ripple-xrp-price-trades-under-the-influence-bearish-pattern-keep-holding\/\" rel=\"noopener\">bearish pattern inverted flag<\/a>. In theory, a recovery phase in the pattern is a short break before the coin price resumes its prior downtrend. Moreover, a breakdown below the pattern\u2019s support trendline signal the completion of this pattern.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">Thus, today, the crypto market witnessed aggressive selling and tumbled the XRP prices by 2.22%. The bearish candle breached the support trendline indicating the sellers are ready to pull the price altcoin to lower levels.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">A daily candle closing below the trendline will accelerate the selling momentum and plunge the coin 6% down to hit the $0.36 support. However, if the selling pressure persists, the prices may drop to the $0.32 accumulation zone.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Technical Indicator<\/span><\/h2>\n<p><span style=\"font-weight: 400\"><strong>EMAs:<\/strong> the XRP price trading below the crucial EMAs(20, 50, 100, and 200) projects an established downtrend. Moreover, 20-and-50-day EMA maintains a dynamic resistance against a bullish rally.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><strong>Relative Strength Index<\/strong>: The <a target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\" rel=\"noopener\">daily-RSI slope<\/a> nosedive below the neutral line and 20-SMA reflects the increasing bearishness among market participants.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">XRP intraday price levels<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Spot price: $0.38<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Trend: Bearish<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Volatility: Medium<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Resistance level- $0.38 and $0.41<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Support level- $0.35 and 0.32\u00a0<\/span><\/li>\n<\/ul>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA130310\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<p>\nFrom the past 5 years I working in Journalism. I follow the Blockchain &amp; Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com\n<\/p>\n<\/div>\n<div class=\"author_Image\">\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&amp;d=mm&amp;r=g\" \/><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" \/> <\/div>\n<\/div>\n<\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD130310\">\n<p> The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><a target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\" rel=\"noopener\">Close Story<\/a>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiVmh0dHBzOi8vY29pbmdhcGUuY29tL21hcmtldHMvbG9zaW5nLXRoaXMtc3VwcG9ydC13aWxsLXRoZS14cnAtcHJpY2UtZHJvcC10by0wLTM2LW1hcmsv0gFaaHR0cHM6Ly9jb2luZ2FwZS5jb20vbWFya2V0cy9sb3NpbmctdGhpcy1zdXBwb3J0LXdpbGwtdGhlLXhycC1wcmljZS1kcm9wLXRvLTAtMzYtbWFyay9hbXAv?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Published 18 hours ago A bearish breakdown from the inverted flag pattern releases the trapped bearish momentum in the Ripple coin. Currently, the altcoin is in a retest phase, trying to validate whether it can sustain this breakdown. Moreover, the XRP price may undermine the November recovery if the overall market sentiment remains bearish.\u00a0 Key [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":37503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[1371,1917,1162,195,216,58],"class_list":["post-37502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-drop","tag-losing","tag-mark","tag-price","tag-support","tag-xrp"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/Ripple_image_extra-1.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37502"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37502\/revisions"}],"predecessor-version":[{"id":37504,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37502\/revisions\/37504"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/37503"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37502"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}