{"id":126295,"date":"2023-07-23T16:06:57","date_gmt":"2023-07-23T16:06:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/heres-why-xrp-price-could-extend-correction-trend-back-to-0-6-crypto-news\/"},"modified":"2023-07-23T16:07:01","modified_gmt":"2023-07-23T16:07:01","slug":"heres-why-xrp-price-could-extend-correction-trend-back-to-0-6-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/heres-why-xrp-price-could-extend-correction-trend-back-to-0-6-crypto-news\/","title":{"rendered":"Here&#8217;s Why XRP Price Could Extend Correction Trend;  Back to $0.6?\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-155024\">\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"681\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/23213127\/v8HR9nQL-e1690128103760.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"XRP Price Analysis\" decoding=\"async\" srcset=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/23213127\/v8HR9nQL-e1690128103760.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/23213127\/v8HR9nQL-e1690128103760-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/23213127\/v8HR9nQL-e1690128103760-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/23213127\/v8HR9nQL-e1690128103760-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 7 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">For over a week, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/xrp\/#:~:text=About%20XRP%20(XRP),the%20Coingape%20Crypto%20Price%20Page.\">XRP price<\/a> resonated in a narrow sideways trend limited between two converging trendlines.  This consolidation came after a massive rally on July 13th and was meant to stabilize the price trend and prolong the bullish trend.  However, a breakdown from the pattern&#8217;s support trendline indicates, the 4th largest cryptocurrency would need longer correction.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/xrp-price-plummets-5-in-24-hours-is-this-the-end-of-the-road-for-bulls\/\">XRP Price Plummets 5% in 24 Hours \u2013 Is This the End of the Road for Bulls?<\/a><\/p>\n<h2><b>XRP Price Daily Chart:<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A support trendline breakdown sets the XRP price for a 10% drop.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The $0.669 support stands as a strong demand zone for the XRP price.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in the XRP is $1.87 Billion, indicating a 27% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"XRP Price\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/v\/v8HR9nQL.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/v\/v8HR9nQL.png\" alt=\"XRP Price\" width=\"1946\" height=\"1104\"\/><\/noscript>Source: <\/span><span style=\"font-weight: 400;\">tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the 4-hour time frame chart, the XRP price showcased the recent consolidation as the formation of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/pennant-pattern\/#:~:text=A%20pennant%20pattern%20has%20formed,the%20height%20of%20the%20flagpole.\">pennant pattern<\/a>,  However, on July 22nd, the coin price gave a bearish breakdown from the pattern&#8217;s support trendline.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">A bearish outcome from a bullish pattern is a strong sell signal indicating a potential downfall in the near future.  As of press time, the XRP price trades at $0.74 with a gain of 1.32%.  This bullish uptick could retest the breached trendline to check price suitability for lower prices.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">This post-breakdown fall could tumble the altcoin market value 9.5-10% down to hit $0.669. <\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>Will XRP Price Plunge Back to $0.6?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The XRP price potential downfall to $0.669 would face strong support as aligned with the 50% <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/fibonacci-retracement\/\">Fibonacci retracement level.<\/a> In technical analysis, a correction of 50% is still considered healthy and suitable to resume the prevailing bullish trend.  However, a breakdown from this support plunged the price by 8.6% and tested the combined support of $0.6 and 61.8% FIB.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Exponential Moving Average<\/strong>: The 20-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">Ema<\/a> at $0.669 the support strength of this level increases.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Directional Movement Index<\/strong><span style=\"font-weight: 400;\">: A significant gap between the positive crossover state of the DI+(blue) and DI-(orange) slope indicates the bullish momentum is intact.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA155024\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  Reach out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD155024\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 7 minutes ago For over a week, the XRP price resonated in a narrow sideways trend limited between two converging trendlines. This consolidation came after a massive rally on July 13th and was meant to stabilize the price trend and prolong the bullish trend. However, a breakdown from the pattern&#8217;s support trendline indicates, the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":126296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-126295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/126295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=126295"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/126295\/revisions"}],"predecessor-version":[{"id":126297,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/126295\/revisions\/126297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/126296"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=126295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=126295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=126295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}