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Following a significant drop to the crucial support region of $0.43, Ripple encountered increased buying pressure and saw a substantial surge, pushing the price back above the 100 and 200-day moving averages.
An in-depth look at Ripple’s daily chart shows that after a sharp decline below the 100 and 200-day moving averages, the price hit a significant support region at $0.43, creating a state of fear in the market. Currently, Ripple is confined within a decisive price range, with major support at the 200-day moving average around $0.54 and significant resistance at $0.64. A breakout from this range will likely determine the next move.On the 4-hour chart, Ripple encountered strong selling pressure near the crucial resistance at $0.64, resulting in a sharp decline toward the significant support zone defined by the 0.5 and 0.618 Fibonacci levels.
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