#XRP correction from $0.570 resistance continues, maintaining stability above the $0.5000 support level, which is bolstering holder optimism during the Ripple vs. SEC lawsuit's remedies phase.
Recent rebound from $0.4786 brings $XRP close to the $0.5700 resistance, underlining the market's volatility.
XRP faces rejection at the 100-Day EMA on the daily chart, signaling potential resistance and highlighting a critical price level.
Despite the ongoing downtrend from $0.74 peaks, both bulls and bears are actively involved, forming a short-term falling wedge pattern.
However, the breach of the falling wedge on Monday wasn't sustained, leading to a retreat in #XRP's price.
A breakout of the falling wedge pattern by bulls may signal a forthcoming $XRP rally to $0.85, supported by growing momentum.
According to Coingabbar analysis, If bears regain control, XRP might drop to $0.50 within the wedge pattern boundaries, signaling a potential reversal.
KEY LEVELS :
RESISTANCE LEVEL : $0.5700-$0.6500
SUPPORT LEVEL : $0.4800-$0.4200
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