Ripple Price Analysis How Low Can XRP Drop if It Loses the 050 Support

CoinWorld reports:
Ripple’s recent price movement reflects market caution, temporarily rebounding from the key support zone at $0.50 to the 200-day moving average.
However, rejection at this level may reinforce the ongoing bearish trend.
XRP Analysis
By
Shayan
Daily Chart
On the daily chart, XRP is facing selling pressure again after failing to maintain its gains near the 200-day moving average at $0.57. This level has formed strong resistance, and breaking below the 200-day moving average indicates that sellers are attempting to push the price down. Following the decline, Ripple found support at the high of $0.50, an area that has historically been crucial and has served as a defensive zone for buyers over the past year.
Currently, the asset is retreating towards the 200-day moving average, but another rejection at this level may complete the correction and lead to further declines, potentially targeting the significant level of $0.46.
4-Hour Chart
The 4-hour chart shows a descending consolidation pattern, with Ripple trading within the key support zone defined by the 0.5 (at $0.52) and 0.618 (at $0.49) Fibonacci levels. This area has provided solid support for several months. Ripple has also formed a descending wedge pattern near the $0.49-$0.52 range, with recent buying activity pushing the price towards the wedge’s upper limit at $0.53.
A breakout above this threshold could indicate a bullish rebound, potentially reaching the resistance level at $0.55. However, given the overall market sentiment and the recent downtrend, a more likely mid-term scenario is a rejection at this level, followed by a decline towards the support level at $0.50.