XRP bulls reclaim $20 after devastating 0.5% crash

The price of Ripple (XRP) has been sliding over the past few days as the crypto market has experienced a significant decline. However, there are currently signs of short-term recovery.

On the USDT pairing chart, Ripple failed to hold above the $0.6 resistance and the 200-day moving average around $0.55. However, the market quickly rebounded from the $0.43 support and recovered to $0.5. To achieve a significant bullish move, the market would need to break above the 200-day moving average.

In the XRP/BTC pair, the price moved back above the 800 SAT support and is currently hovering around the 200-day moving average near 900 SAT. If it successfully breaks higher, the price is expected to rebound towards the 1200 SAT resistance zone. With the relative strength index (RSI) value above 50%, the trend is favorable for the bullish trend. But if the 800 SAT support breaks below, the market could hit new lows. Ripple has shown some resilience after its recent decline. However, investors should pay attention to key technical indicators such as the 200-day moving average and support levels to judge future market trends.

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