Ethereum

Resistance

XRP price started a fresh decline from the $0.5050 resistance zone. The price could decline further if there is a close below the $0.4865 support. 
<ul> 
 <li>XRP extended losses and traded below the $0.500 support.</li> 
 <li>The price is now trading below $0.4950 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bearish trend line forming with resistance at $0.4980 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could slide further toward the $0.4550 support in the near term.</li> 
</ul> 
<h2 id="xrp-price-dives-below-0-50">XRP Price Dives Below $0.50</h2> 
Recently, XRP price attempted a recovery wave above the $0.5050 level. However, the bears were active and the price started a fresh decline below the $0.500 support, like <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-takes-hit-2865/" target="_blank" rel="noopener ">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-bearish-60k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was a move below the $0.4920 and $0.4880 levels. A low was formed at $0.4867 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level of the downward move from the $0.5085 swing high to the $0.4867 low. 
The price is now trading below $0.4950 and the <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-consolidates-0-530/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. Immediate resistance is near the $0.4980 level. There is also a key bearish trend line forming with resistance at $0.4980 on the hourly chart of the XRP/USD pair. It is close to the 50% Fib retracement level of the downward move from the $0.5085 swing high to the $0.4867 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_f436ed.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-607673" src="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_f436ed.png?resize=1024%2C461" alt="XRP Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_f436ed.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_f436ed.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_f436ed.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_f436ed.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_f436ed.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_f436ed.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_f436ed.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> 
The first key resistance is near $0.500. A close above the $0.500 resistance zone could spark a strong increase. The next key resistance is near $0.5085 and the 100-hourly Simple Moving Average. If the bulls remain in action above the $0.5085 resistance level, there could be a rally toward the $0.5250 resistance. Any more gains might send the price toward the $0.550 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.50 resistance zone, it could start another decline. Initial support on the downside is near the $0.4865 level. 
The next major support is at $0.4780. If there is a downside break and a close below the $0.4780 level, the price might accelerate lower. In the stated case, the price could retest the $0.450 support zone. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $0.4865 and $0.4780. 
Major Resistance Levels – $0.500 and $0.5085.

XRP Bears Keeps Pushing, Indicators Suggest A Strengthening Case of More Losses

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