Ripple Price Analysis: Risk of Larger Decline Below $0.24

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It is testing the 55 SMA, and the 23.6% Fib retracement level of the recent decline from the $0.2580 swing high to $0.2424 low. The 50% Fib retracement level of the recent decline from the $0.2580 swing high to $0.2424 low is also near the channel resistance.

Looking at the chart, ripple price is clearly consolidating above the $0.2400 support, but it is below the 55 simple moving average (4-hours). Therefore, the price could decline heavily if it breaks the $0.2400 support level in the near term.

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