Ripple price firmly holds crucial support shaking off Bitcoin-triggered selloff

Ripple once again lost steam during an approach to $1.6. A correction began on Wednesday as bears put pressure on the support areas at $1.5 and $1.4, respectively. The news that Tesla had suspended Bitcoin payments for its electric vehicles sent the market in bloodshed led by BTC’s drop under $50,000.
Ripple could resume uptrend toward $2
The retreat from highs close to $1.6 embraced an anchor at $1.33, reinforced by the 50-day Simple Moving Average (SMA). This anchor brought back some semblance of stability in the market and prevented Ripple from exploring levels toward $1.
At the time of writing, XRP trades at $1.35 after bouncing off the critical support. On the upside, a delay is expected at $1.4, but once the hurdle is broken, Ripple bulls may start lifting to higher levels.
XRP/USD four-hour chart
The Relative Strength Index (RSI) reveals that the bullish grip is becoming stronger. This move comes after the trend strength indicator bounced off support at 45 and is currently moving to the midline. A continued movement toward the overbought region would affirm to the investors that the slightest resistance path is upward.
It is worth mentioning that Ripple is not out of the woods yet based on the Moving Average Convergence Divergence (MACD). For instance, the MACD line’s divergence under the signal line keeps widening, insinuating that the bearish outlook is apparent. Therefore, it calls for caution and waiting for a validated break before going all-in on XRP.
Ripple intraday levels
Spot rate: $1.35
Trend: Bullish
Volatility: Low
Support: $1.33, $1.2 and $1
Resistance: $1.4, $1.6 and $1.8
- Crypto Market Crash: $700M Liquidated in Bitcoin, ETH, XRP, SOL, DOGE, XPL
- GraniteShares 3x XRP ETF Can Trigger ‘Panic Buying XRP’ Says Expert
- TRUMP Token Gets Major Boost as Issuer Launches $200 Million Treasury Plan
- Gold Vs Bitcoin – Peter Schiff Predicts BTC Will Be ‘Rugged by Gold’
- CEA Industries’ BNB Holdings Reach 480K as Binance Coin Hits New ATH of $1,300
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
- Cardano Price Consolidates Below Key Resistance Ahead of ETF Verdict — Is a 50% Rally in Sight?
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
- Pi Network Price Risky Pattern Points to Crash as 14M Coins Leave OKX