XRP Price Falls Near Critical Support Level as Bitcoin and Crypto Market Corrects

XRP price corrected as investors book profits And hope For A place XRP ETFs collapses.

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XRP (XRP) price has abandoned ten% In January as investors book profits And wider bearish feeling takes on THE cryptocurrency market.

XRP price NOW appears primed For further losses In THE short term, mostly due has A classic bearish pattern.

XRP price professions below A bearish Triangle

On Jan. 3, XRP broken below THE support double of A descending Triangle has $0.5934, risk A 17% correction.

NOW, XRP has has been trade next to below THE technical chart model, And This bearish model shapes When THE price consolidated inside A Triangle defined by A series of lower tops And relatively equal the lowest.

A descending Triangle East resolved After THE price breaks below It is support double, accompanied by A increase In trade volumes. THE patterns to burst target East got by add THE height of THE Triangle (THE the thickest part of THE Triangle) has THE to burst indicate on THE disadvantage.

In THE case of XRP, THE chart model was resolved on Jan. 3 as THE price abandoned has $0.5048, It is the lowest level Since October. 19, 2023.

XRP/USD every day chart. Source: TradingView

Attempts has elevator XRP were frustrated by supplier congestion Since THE 100 days exponential moving average (EMA), Currently has $0.5934. On Jan. 17, THE token lost Again another crucial support level provided by THE 200 days EMA has $0.5717.

THE moving average convergence divergence (MACD) indicator moved In THE negative region below THE neutral double. This suggested that THE mar...