The decline over the past couple of days has seen XRP drop below multiple supports. The token barely held together above $0.52, after which its crucial support at $0.42 was also dislodged. The asset also dropped below $0.39, but currently, is hovering just under the range.
It is important to note that XRP declined down to $0.33, which was its next support in the charts. The position of the asset under the 50-Moving Average may only pile more pressure on the asset, as the correction period could be far from done. While a period of retracement should manifest, considering market structure, a strong pullback upwards is hard to imagine.
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