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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ripples-xrp-struggles-with-downward-price-pressure/" data-wpel-link="internal">Ripple’s XRP Struggles with Downward Price Pressure</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/crypto-markets-react-to-recent-macroeconomic-data/" data-wpel-link="internal">Cryptocurrency</a></strong> market leader <a href="https://en.coin-turk.com/wells-fargo-analysts-astonishing-xrp-coin-forecast-the-most-audacious-prediction-yet/" data-wpel-link="internal">Ripple</a> (XRP) is currently struggling with harsh downward pressures on its price. Particularly, its persistence below $0.620 necessitates staying above the $0.5680 support level for any new attempt at a rise. However, XRP has recently been trading below the risky $0.6 support level, facing an increased risk of further decline.</p> 
<h2 style="text-align: justify" id="xrp-exhibits-a-downward-trend">XRP Exhibits a Downward Trend</h2> 
<p style="text-align: justify">Recent developments indicate that the XRP price has been following a downward trajectory from the $0.6620 resistance zone. Currently, the price is trading below $0.620 and the 100-day simple moving average. A downward trend line around $0.600 resistance is particularly noticeable on the 4-hour chart, which could accelerate the downtrend if there’s a close below the $0.5680 support.</p> 
<p style="text-align: justify">The volatility in recent sessions has led to a significant drop in XRP from the $0.650 levels. The downtrend in major cryptocurrencies like <a href="https://en.coin-turk.com/bitcoin-network-faces-congestion-with-over-560000-unconfirmed-transactions/" data-wpel-link="internal">Bitcoin</a> and Ethereum has also contributed to XRP falling below the $0.620 and $0.605 support levels.</p> 
<h2 style="text-align: justify" id="xrp-price-attempts-to-recover">XRP Price Attempts to Recover</h2> 
<p style="text-align: justify">With the price retreating to the $0.580 level, a low point formed around $0.5805, and currently, the price is trying to consolidate its losses. However, factors such as resistance near the $0.600 region and the trend line highlight the difficulty of gaining upward momentum.</p> 
<p style="text-align: justify">Technical analysis shows that the price remains below $0.620 and the 100-day simple moving average. Overcoming the resistance and trend line around $0.600 is critical, but a more robust increase might require a close above the $0.6250 resistance zone. In this case, the key resistance level around $0.6620 could be targeted.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-336756 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ripple-xrp-coin-turk-com-.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">If bulls manage to sustain movements above the $0.6620 resistance level, a rally towards the $0.680 resistance could be expected. However, for larger gains, the price needs to surpass the $0.700 resistance level.</p> 
<h2 style="text-align: justify" id="potential-for-further-decline">Potential for Further Decline</h2> 
<p style="text-align: justify">Currently, XRP is struggling to overcome the $0.600 resistance zone. If this resistance cannot be breached, the asset might enter another downtrend. The first support on the downside is near the $0.580 levels, with the $0.5680 level emerging as the main support point in case of a more pronounced decline.</p> 
<p style="text-align: justify">If a breakdown below this level occurs, the price could move further down, potentially retesting the $0.5250 support zone.</p> 
<h2 style="text-align: justify" id="what-do-technical-indicators-suggest">What Do Technical Indicators Suggest?</h2> 
<p style="text-align: justify">Upon examining technical indicators, the 4-hour MACD for the XRP/USD pair is showing a bearish trend. Additionally, the 4-hour RSI is trading below the 50 level, indicating that selling pressure may continue.</p> 
<p style="text-align: justify">Key levels for altcoin XRP include support points at $0.580, $0.5680, and $0.5250. Resistance levels are identified at $0.600, $0.6250, and $0.6620, respectively.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ripples-xrp-struggles-with-downward-price-pressure/" data-wpel-link="internal">Ripple’s XRP Struggles with Downward Price Pressure</a></h5>

Ripple’s XRP Struggles with Downward Price Pressure

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