---
title: "Ripple Price Analysis: Is XRP on the Verge of an Imminent Correction Below $0.55?"
url: https://diffcoin.com/ripple-price-analysis-is-xrp-on-the-verge-of-an-imminent-correction-below-0-55/
description: "Ripple has recently surged to the critical resistance level of $0.65 following a successful pullback to the broken 200-day moving average. However, a"
published: 2024-08-26
updated: 2024-08-26
author: "Mila"
site: "Diffcoin"
---

# Ripple Price Analysis: Is XRP on the Verge of an Imminent Correction Below $0.55?

Ripple has recently surged to the critical resistance level of $0.65 following a successful pullback to the broken 200-day moving average.

However, a bearish divergence between the price and the RSI indicator suggests that the current upward momentum may face rejection at this critical resistance level in the coming days.

## XRP Analysis

By Shayan

## The Daily Chart

A detailed examination of the daily chart reveals that Ripple has experienced a bullish surge after successfully pulling back to the broken 200-day moving average (MA) at $0.55. This price action underscores buyers’ dominance in the market, propelling the XRP price to a critical resistance region around $0.63—a level that has previously rejected the cryptocurrency multiple times.

Ripple now finds itself confined within a tight range, with the $0.63 resistance on the upper end and the 200-day MA at $0.55 as significant support.

Given the bearish divergence between the price and the RSI indicator, a rejection at the $0.63 level is anticipated, potentially leading to a decline toward the lower boundary of the range at $0.55.

![xrp_price_chart_2608241](https://cryptopotato.com/wp-content/uploads/2024/08/XRP-D-4-scaled.jpg)

Source: TradingView

## The 4-Hour Chart

On the 4-hour chart, XRP surged from the critical region between the 0.5 ($0.52) and 0.618 ($0.48) Fibonacci retracement levels, entering a crucial price range defined by the $0.55 support and the multi-month resistance zone at $0.63.

Currently, it is struggling to break through the upper boundary at $0.63, showing low volatility and weakening bullish momentum. As a result, a short-term rejection is likely, with a potential decline toward the key $0.55 support region.

However, if buying pressure intensifies, Ripple could eventually reclaim the $0.63 resistance level, signaling a significant bullish shift and potentially revitalizing market momentum. The price action in the coming days will be critical in determining Ripple’s short-term trajectory.

![xrp_price_chart_2608242](https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-4-scaled.jpg)

Source: TradingView

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