According to CryptoPotato, Ripple's price has been in a consolidation phase for the past few weeks, failing to sustain its recovery. However, there is still a chance for the market to ascend. On the USDT paired chart, the price recently bounced back from the $0.4 support zone and rose above the $0.5 level. However, the 200-day moving average, situated around the $0.6 mark, remains unbroken. The price is currently falling back towards the $0.5 level. If this level holds, XRP might rally towards the 200-day moving average. However, with the RSI indicating values below 50%, the market momentum is still leaning towards a bearish move.
In the chart against Bitcoin, it is clear that the market's downtrend has finally stopped, with the 800 SAT level stopping the price from falling further. Meanwhile, the Relative Strength Index has been fluctuating around the 50% level, suggesting that the market is in balance. If the 800 SAT area holds, investors can be hopeful that the XRP price can rise towards the 1200 SAT resistance level and the 200-day moving average located around the same mark. However, as long as the cryptocurrency remains below the 200-day moving average, the market's trend cannot be considered bullish.
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