Price Analysis

XRP Price Prediction: Will the Ongoing Correction Hit $0.4?

XRP price printed a massive red candle on the daily time frame chart, recording a high and low of $0.5948 and $0.4226 respectively.
Published by
XRP Price Prediction: Will the Ongoing Correction Hit $0.4?

On August 17th, the XRP price printed a massive red candle on the daily time frame chart, recording a high and low of $0.5948 and $0.4226 respectively. Though this downfall triggered a notable negative sentiment among traders, the price action went sideways immediately. Thus, uncertainty could be associated with the choppy price behavior of the largest cryptocurrency, the XRP price has shaped into a bearish pennant pattern.

Also Read: Ripple Vs US SEC Trial No Earlier Than This Date, XRP Price Rebounds

Advertisement

XRP Daily Chart: Key Points

  • The range between the triangle structure can be marked as a no-trading zone.
  • A bearish crossover between the 20-and-100-day EMA may accelerate the supply pressure among market participants. 
  • The intraday trading volume in the XRP is 823.5 Million, indicating a 12.75% loss.

Source: Tradingview`

In response to the indecisive market sentiment, the XRP price has been wavering sideways for over a week. A keen look at the 4-hour time frame chart shows the price action is confined in a narrow range within the two converging trendlines, forming a triangular shape.

After a massive downfall, this triangle setup indicates the formation of a bearish pennant pattern. By the press time, the XRP coin traded at $0.523 with an intraday loss of 0.51%. 

Considering a higher possibility, the crypto sellers are likely to break the pattern’s lower support and accelerate the bearish momentum in price. The post-breakdown fall could plunge the altcoin’s market value by 18.8% revisiting the $0.422 low.

[converter id=”xrp-xrp” url=”https://coingape.com/price/converter/xrp-to-usd/?amount=1″]

Advertisement

Can XRP Buyer Make a Comeback?

While the overall market sentiment and price behavior support sellers, buyers may get an opportunity to counterattack if they break the upper trendline of the pattern. A bullish breakout from the overhead trendline will intensify bullish momentum and prepare a significant upswing in XRP price. However, the anticipated recovery must close above the August 17th high of $0.5948 for better confirmation. 

  • Exponential Moving Average: The 20-day EMA slope may offer dynamic resistance against the bullish bounce
  • Average Directional Index: An uptick in the daily ADX slope at 31% indicates sellers can carry further downfall.
Advertisement

Share
Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?

Floki price has drawn strong attention after recording a bullish daily surge of over 30%.…

October 4, 2025
  • Price Analysis

BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?

BNB Coin price has entered a powerful phase after breaking through a major resistance level…

October 4, 2025
  • Price Analysis

Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B

Aster price has recently shown strong signals on the chart, with a breakout from its…

October 3, 2025
  • Price Analysis

Will XRP Price Hit $5 if the SEC Approves ETFs This Month?

XRP price could be on the cusp of a big move in the coming weeks…

October 3, 2025
  • Price Analysis

Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?

Bitcoin price has recently surged to the $120K mark, reclaiming momentum and sparking fresh optimism…

October 3, 2025
  • Price Analysis

Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying

Pi Network price has crashed by over 90% from its highest level since its mainnet…

October 2, 2025