XRP The recent decline in price allows us to consider three important price levels that may be decisive for the short-term trajectory of the asset.
To evaluate XRP’s near-term momentum, it is important to pay attention to the 50-day EMA, an important technical indicator. Currently, the altcoin is facing resistance at this level, which is seen as a critical point for recovery or further decline. The 50 EMA functions as a dynamic support level beyond which selling pressure may increase.
Half Dollar Psychological and Technical Level Will Change the Fate of XRP Price
The $0.50 level is important not only psychologically but also historically as a reversal zone. This price point has previously acted as a reversal zone, indicating that investors are reacting at these levels and potentially viewing them as a value area. A retest of this level could become strong support or, if broken, could lead to confirmation of a downtrend.
Critical Level of $0.41
Further down, the $0.41 level could be seen as the last point of salvation for bullish hopes. Any break below this level could signal a loss of investor confidence and trigger further declines.
As we reported as Koinfinans.com, the next critical level of resistance is based on the recent local peaks. If XRP attempts a recovery, it must first surpass the resistance near $0.55. Subsequently, the $0.60 level could serve as the next important hurdle.
If XRP cannot maintain these support levels, a bearish scenario may occur. A break below EMA 50 could trigger a significant liquidation wave and lead the price to test the $0.50 level. Below this level, the critical level of $0.41 can be targeted.
