XRP flirting with critical level known as horizontal support, currently trading around $0.505
At a current price of around $0.505, the cryptocurrency is closely approaching its horizontal support level of $0.51.
This technical indicator is significant because it is often seen as a potential turning point for asset prices. If XRP maintains this level, it could signal an impending price rebound.Horizontal support is a level where a security's price halts and heads back up, suggesting that buyers are more willing to buy at that price point than to let it drop further. In XRP's case, the $0.51 mark serves as that crucial price level.
, XRP saw a loss of momentum and even dipped below the $0.50 mark in September, making the horizontal support level even more significant for its potential recovery.
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