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Ripple is currently in a prolonged consolidation phase, hovering near a decisive support region with minimal volatility and slight movements. An imminent breakout is expected, with its direction likely indicating the upcoming trend.
On the other hand, the range’s upper boundary also aligns with the 100-day and 200-day moving averages, making it a decisive level of supply and acting as robust resistance. This development indicates a bearish sentiment in the market, with sellers maintaining dominance, leading to retracements and fluctuations. On the other hand, the price has formed an ascending flag pattern, typically signaling a continuation of the preceding bearish trend.
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