Bitcoin

Resistance

XRP price is moving lower below the $0.5200 support. The price could gain bearish momentum if there is a close below the $0.50 support. 
<ul> 
 <li>XRP is showing bearish signs below the $0.525 and $0.512 resistance levels.</li> 
 <li>The price is now trading below $0.520 and the 100 simple moving average (4 hours).</li> 
 <li>There was a break below a key contracting triangle with support at $0.5220 on the 4-hour chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair is now at risk of more downsides below the $0.5000 support zone.</li> 
</ul> 
<h2 id="xrp-price-takes-hit">XRP Price Takes Hit</h2> 
In the past few days, XRP price heavy bearish moves below the $0.550 support. The bears remained active near the $0.5500 resistance and protected a recovery wave, unlike <a href="https://www.newsbtc.com/analysis/btc/bitcoin-bulls-keep-pushing-43800/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-trims-gains-2300/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a fresh decline from the $0.5389 high and the bears pushed the price below $0.5200. There was a steady decline and there was a break below a key contracting triangle with support at $0.5220 on the 4-hour chart of the XRP/USD pair. 
The price is now trading below $0.520 and the 100 simple moving average (4 hours). A low is formed near $0.5012, and the price is now consolidating losses. On the upside, immediate resistance is near the $0.520 zone. It is near the 50% Fib retracement level of the downward wave from the $0.5389 swing high to the $0.5012 low. 
The first key resistance is near $0.530 or the 76.4% Fib retracement level of the downward wave from the $0.5389 swing high to the $0.5012 low, above which the price could rise toward the $0.5380 resistance. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/01/XRP_Price_80fc42.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-572507" src="https://www.newsbtc.com/wp-content/uploads/2024/01/XRP_Price_80fc42.png?resize=1024%2C449" alt="XRP Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/XRP_Price_80fc42.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/01/XRP_Price_80fc42.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/XRP_Price_80fc42.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/XRP_Price_80fc42.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/XRP_Price_80fc42.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/XRP_Price_80fc42.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/XRP_Price_80fc42.png?resize=1024%2C449?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> 
A close above the $0.5380 resistance zone could spark a strong increase. The next key resistance is near $0.5550. If the bulls remain in action above the $0.5550 resistance level, there could be a rally toward the $0.5800 resistance. Any more gains might send the price toward the $0.6000 resistance. 
<h2 id="key-downside-break">Key Downside Break?</h2> 
If XRP fails to clear the $0.5200 resistance zone, it could continue to move down. Initial support on the downside is near the $0.502 zone. 
The next major support is at $0.500. If there is a downside break and a close below the $0.500 level, XRP price might accelerate lower. In the stated case, the price could retest the $0.450 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 – $0.505, $0.500, and $0.450. 
Major Resistance Levels – $0.520, $0.538, and $0.550.

XRP Price Turns Red As Risk of More Downsides Escalate

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