- Ripple (XRP) faces significant bearish pressure, with potential for a drop towards $0.4 amid weak price support and unfavorable momentum indicators.
- Investors should monitor closely as XRP navigates critical resistance levels.
Verge of a Critical Breakdown
Ripple (XRP) is teetering on the edge of a significant downturn, with recent movements indicating potential trouble ahead. Currently trading below the crucial 200-day moving average of $0.55 on the USDT pair, XRP has breached the $0.5 support level. Failure to reclaim this level soon could spell further trouble, potentially pushing the price toward the ominous $0.4 support zone.
![](https://cryptonewsfocus.com/wp-content/uploads/2024/07/XRPUSDT-Daily-Jul-2-2024-scaled-1.webp)
Bearish Momentum Intensifies
The Relative Strength Index (RSI), a key momentum indicator, has dipped below 50%, signaling growing bearish sentiment. This downturn is further accentuated by a stagnant XRP/BTC chart, which has struggled to break above the 800 SAT resistance zone since May. As it hovers below the 200-day moving average, currently around 1000 SAT, any upward movement against BTC appears unlikely in the near term.
![](https://cryptonewsfocus.com/wp-content/uploads/2024/07/ee.webp)
Caution Advised
Investors and traders alike should exercise caution amidst Ripple’s current price action. With indicators pointing towards continued bearish pressure, particularly if $0.5 remains unclaimed, the possibility of XRP testing lower support levels, notably $0.4, becomes increasingly likely.