XRP Price Analysis: Can 200-day EMA Breakdown Push Prices Below $0.5?

Amid the increasing bearishness in the crypto market, the XRP price witnessed a massive sell-off on August 17th, leading the correction trend to a low of $0.4226. Considering the high of $0.938, this downfall registered around a 54.5% loss in the last six weeks. Can the aforementioned support aligned with the 78.6% Fibonacci retracement level