XRP Plummets Below $0.5 but Bulls Looking Eager to Recover (Ripple Price Analysis)

XRP’s price has taken a nosedive, falling below $0.5, but there is optimism among bulls that a recovery may be on the horizon, according to analysis of Ripple’s price. After a period of consolidation, XRP is showing signs of making a significant move, although it appears to be in a bearish direction. The USDT paired chart reveals a consolidation within a symmetrical triangle pattern, with the price dropping below the triangle pattern. With the RSI also indicating a bearish shift, there is a high probability of a drop towards the $0.4 support zone if the $0.5 level is breached. The XRP/BTC pair is faring even worse, with a downward trend since November last year and failing to surpass the 800 SAT resistance zone. It is currently undergoing another bearish movement, with the 600 SAT support level likely to be the short-term target. However, oversold conditions as indicated by the RSI could potentially result in a recovery in the coming weeks.