Bitcoin

Resistance

XRP price is struggling below $0.620. The price must stay above the $0.5680 support to attempt a fresh increase in the near term. 
<ul> 
 <li>XRP is slowly moving lower from the $0.6620 resistance zone.</li> 
 <li>The price is now trading below $0.620 and the 100 simple moving average (4 hours).</li> 
 <li>There is a major bearish trend line forming with resistance near $0.600 on the 4-hour chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could gain bearish momentum if there is a close below the $0.5680 support.</li> 
</ul> 
<h2 id="xrp-price-faces-many-hurdles">XRP Price Faces Many Hurdles</h2> 
In the past few sessions, XRP price saw a steady decline from well above the $0.650 level. There was a drop below the $0.620 and $0.605 support levels, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-65k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-uptrend-3320/" target="_blank" rel="noopener ">Ethereum</a>. 
The price tested the $0.580 support. A low was formed near $0.5805 and the price is now consolidating losses. There is also a major bearish trend line forming with resistance near $0.600 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 $0.600 zone and the trend line. It is close to the 23.6% Fib retracement level of the downward wave from the $0.6625 swing high to the $0.5805 low. 
The next key resistance is near $0.620. It is close to the 50% Fib retracement level of the downward wave from the $0.6625 swing high to the $0.5805 low. A close above the $0.6250 resistance zone could spark a strong increase. The next key resistance is near $0.6620. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-601113" src="https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price.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> 
If the bulls remain in action above the $0.6620 resistance level, there could be a rally toward the $0.680 resistance. Any more gains might send the price toward the $0.700 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.600 resistance zone, it could start another decline. Initial support on the downside is near the $0.580 zone. 
The next major support is at $0.5680. If there is a downside break and a close below the $0.5680 level, the price might accelerate lower. In the stated case, the price could retest the $0.5250 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 – $0.580, $0.5680, and $0.5250. 
Major Resistance Levels – $0.600, $0.6250, and $0.6620.

XRP Price Near Crucial Juncture, Can Bulls Take A Stand?

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