According to CryptoPotato, Ripple's price has been in a consolidation phase for nearly a month, with the future direction of the market expected to be determined soon. Despite this, the cryptocurrency is yet to show signs of recovery against the USDT. Following a drop below the 200-day moving average, which is around the $0.6 level, the price action has been notably volatile. The $0.5 support level is currently being tested again, and if this level breaks down, a decline towards the $0.4 zone could be imminent. The Relative Strength Index (RSI) is showing values below 50%, indicating a bearish momentum and a high probability of this scenario.
In contrast, the XRP/BTC chart presents a different scenario. Ripple has been consistently declining against BTC for the past six months. The 800 SAT level has recently managed to hold the price, preventing further decline. However, after nearly a month of consolidation around this level, it appears that the 800 SAT zone is on the brink of a breakdown. This could lead to a catastrophic scenario, with the potential for a flash crash in price.
It is important to note that these observations are based on current market trends and investors are advised to conduct their own research before making any investment decisions.
