Bitcoin

Resistance

XRP price is moving lower from the $0.732 resistance. The price is now at risk of more losses toward the $0.550 support before the bulls take a stand. 
<ul> 
 <li>XRP started a downside correction below $0.638 and $0.612.</li> 
 <li>The price is now trading below $0.625 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key declining channel forming with resistance near $0.622 on the 4-hour chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair dive toward the $0.550 support before the bulls take a stand.</li> 
</ul> 
<h2 id="xrp-price-turns-red">XRP Price Turns Red</h2> 
In the past few days, XRP saw a steady decline from the $0.740 zone. There was a move below the $0.685 and $0.638 support levels. The price even dived below the $0.612 support, underperforming <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-grinds-lower-35k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-bears-pressing-1920/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a recovery wave from $0.572, but the bears were active near $0.638. A high was formed near $0.6385 and the price is now moving lower. There was a break below the 50% Fib retracement level of the upward move from the $0.5723 swing low to the $0.6385 high. 
XRP is now trading below $0.625 and the 100 simple moving average (4 hours). There is also a key declining channel forming with resistance near $0.622 on the 4-hour chart. 
On the upside, immediate resistance is near the $0.615 level. The first major resistance is near the $0.622 zone or the 100 simple moving average (4 hours) or the channel upper zone. A close above the $0.622 resistance zone could spark a steady increase. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/XRP_Price-4.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-562764" src="https://www.newsbtc.com/wp-content/uploads/2023/11/XRP_Price-4.png?resize=1024%2C468" alt="XRP Price Prediction" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/XRP_Price-4.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP_Price-4.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP_Price-4.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP_Price-4.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP_Price-4.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP_Price-4.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP_Price-4.png?resize=1024%2C468?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/XRPUSD/" target="_blank" rel="noopener nofollow">XRPUSD on TradingView.com</a> 
The next key resistance is near $0.638. If the bulls remain in action above the $0.638 resistance level, there could be a rally toward the $0.700 resistance. Any more gains might send XRP toward the $0.720 resistance. 
<h2 id="more-downsides">More Downsides?</h2> 
If XRP fails to clear the $0.622 resistance zone, it could start a fresh decline. Initial support on the downside is near the $0.588 zone. 
The next major support is at $0.572. If there is a downside break and a close below the $0.572 level, XRP price might accelerate lower. In the stated case, the price could retest the $0.540 support zone. 
Technical Indicators 
4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $0.588, $0.572, and $0.540. 
Major Resistance Levels – $0.622, $0.638, and $0.700.

XRP Price Prediction – Downside Thrust Possible Before Fresh Surge To $0.72

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