Ethereum

Resistance

Gains

XRP price started a downside correction from the $0.7450 resistance. The bulls are now struggling to keep the price above the $0.5850 support zone. 
<ul> 
 <li>XRP started a fresh decline after it failed to clear the $0.7450 resistance.</li> 
 <li>The price is now trading below $0.650 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bearish trend line forming with resistance at $0.640 on the 4-hour chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could start a fresh rally if there is a close above the $0.6650 resistance zone.</li> 
</ul> 
<h2 id="xrp-price-trims-gains">XRP Price Trims Gains</h2> 
After a steady increase, XRP price struggled to extend gains above the $0.750 resistance. The price started a downside correction from the $0.7442 high, like <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-extends-losses-3200/" target="_blank" rel="noopener ">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-at-risk-65k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was a steady decline below the $0.700 and $0.665 support levels. The price even declined below the $0.600 support. A low was formed near $0.5874 and the price is now consolidating losses. There was a minor increase above the $0.620 level. 
The price spiked above the 23.6% Fib retracement level of the downward move from the $0.7442 swing high to the $0.5874 low. However, the bears were active near $0.650. There is also a key bearish trend line forming with resistance at $0.640 on the 4-hour chart of the XRP/USD pair. 
Ripple’s token price is now trading below $0.620 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.640 zone. The first key resistance is near $0.6650 or the 50% Fib retracement level of the downward move from the $0.7442 swing high to the $0.5874 low, above which the price could rise toward the $0.70 resistance. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price_d9d9a4.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-598594" src="https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price_d9d9a4.png?resize=1024%2C461" alt="XRP Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price_d9d9a4.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price_d9d9a4.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price_d9d9a4.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price_d9d9a4.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price_d9d9a4.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price_d9d9a4.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price_d9d9a4.png?resize=1024%2C461?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 $0.70 resistance zone could spark a strong increase. The next key resistance is near $0.7450. If the bulls remain in action above the $0.7450 resistance level, there could be a rally toward the $0.800 resistance. Any more gains might send the price toward the $0.820 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.6650 resistance zone, it could start another decline. Initial support on the downside is near the $0.5980 zone. 
The next major support is at $0.5850. If there is a downside break and a close below the $0.5850 level, the price might accelerate lower. In the stated case, the price could retest the $0.520 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 – $0.5980, $0.5850, and $0.5200. 
Major Resistance Levels – $0.640, $0.6650, and $0.700.

XRP Price Prediction: Can Bulls Defend This Key Support?

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