XRP Price Prediction: Why The Bulls Could Protect This Crucial Support

Nov 10, 2022 08:00 am Cryptocurrency 164

XRP price started a major decline from the $0.50 resistance against the US Dollar. The recent collapse of FTX and FTT sparked a sharp move towards the $0.32 support.

Ripple is down over 15% and there was a drop below the $0.40 support against the US dollar.

The price is trading well below $0.4000 and the 100-day simple moving average.

There was a break below a major contracting triangle with support at $0.455 on the daily chart of the XRP/USD pair (data source from Kraken).

The pair could start a recovery wave if the bulls remain active near the $0.32 support.

Ripple’s XRP Price Tests Key Support

In the past 3-4 days, the crypto market saw a major decline. Bitcoin, ethereum, ftt, bnb, and sol saw a substantial decline. Ripple’s XRP price also faced the heat and decl ..

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