<ul><li>Ripple’s token price has started to rise steadily above the $0.500 resistance level.</li><li>The price is currently trading above $0.505 and the 100 simple moving average (4-hour).</li><li>On the 4-hour chart of the XRP/USD pair, there is a significant bullish trend line formed with support around $0.5050.</li></ul>The XRP token price is trading above the $0.50 resistance level. The XRP price signals further upward movement towards $0.55 or $0.565.<h2 id="header-0">XRP Price Managed to Stay Above $0.50</h2>In the last few days, Ripple’s XRP gained bullish momentum above the $0.45 resistance level against the US dollar. It started a steady bullish trend above $0.465, leaving Bitcoin and Ethereum behind.The $0.480 and $0.488 resistance levels were clearly surpassed. Eventually, the bulls managed to push the price above $0.500. A high level of $0.5286 was formed and the price recently saw a small downward correction.The price moved below the 23.6% Fib retracement level of the upward wave from the swing low of $0.4432 to the high of $0.5286.XRP price is still trading above $0.505 and the 100 simple moving average (4-hour). Additionally, on the 4-hour chart of the XRP/USD pair, there is a major bullish trend line formed with support around $0.5050.<img src="https://en.coinotag.com/wp-content/uploads/2023/06/XRP-Price-Successfully-Maintains-Above-050-Critical-Support-and-Resistance.png" />XRP/USD 4 Hour Price ChartThe first resistance on the upside is near the $0.5250 area. The first major resistance level is around $0.532. A successful break above the $0.532 resistance level could send the price towards the $0.550 resistance. Further gains may require testing the $0.565 resistance.<h2 id="header-1">Will the Rise in XRP Stop?</h2>If Ripple fails to break the $0.525 resistance area, it may start a downward correction. The first support on the downside is around the $0.505 area and the trend line.The next important support is around the $0.500 level. If there is a downside break and a close below the $0.50 level, the XRP price may increase its losses. In this case, the price may test the $0.486 support area or the 50% Fib retracement level of the upward wave from the $0.4432 low to the $0.5286 high.Technical Indicators<ul><li>4 Hour MACD – The MACD for XRP/USD is gaining bullish momentum.</li><li>4 Hour RSI (Relative Strength Index) – The RSI for XRP/USD is currently in overbought territory.</li><li>Important Support Levels – $0.505, $0.500, and $0.486.</li><li>Important Resistance Levels – $0.525, $0.532, and $0.550.</li></ul>Source: <a href="https://en.coinotag.com/xrp-price-successfully-maintains-above-0-50-critical-support-and-resistance-levels/" rel="noopener noreferrer nofollow">https://en.coinotag.com/xrp-price-successfully-maintains-above-0-50-critical-support-and-resistance-levels/</a>

XRP Price Successfully Maintains Above $0.50: Critical Support and Resistance Levels

Table of Contents

CO NEWS

Other articles published on Jun 2, 2023

BNB Supported by Criticism! If this Support Breaks, is the Target $280?

Singapore’s Central Bank Strengthens Customer Due Diligence

Shiba Inu Investors Can Become SHIB Millionaires with $8

Bitcoin and Dollar React to US Non-Farm Employment and Unemployment Data Announcement

URGENT!! I Missed The Biggest China + AI Crypto

Kakarot zkEVM Receives Pre-Seed Investment from Vitalik Buterin and StarkWare

Join our free newsletter for daily crypto updates!