Bitcoin

Resistance

XRP price shows positive signs above the $0.5100 resistance. The price could gain bullish momentum if it clears the $0.520 and $0.5220 resistance levels. 
<ul> 
 <li>XRP is eyeing a fresh increase above the $0.520 level.</li> 
 <li>The price is now trading above $0.510 and the 100-hourly Simple Moving Average.</li> 
 <li>There is another short-term declining channel forming with resistance at $0.520 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could start another increase if there is a close above the $0.520 resistance.</li> 
</ul> 
<h2 id="xrp-price-eyes-more-upsides">XRP Price Eyes More Upsides</h2> 
After a steady increase, XRP price faced resistance near the $0.520 zone. Recently, there was a minor downside correction like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-65k-3/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/all/ethereum-price-correction-2925/" target="_blank" rel="noopener ">Ethereum</a>. The price declined below the $0.5180 level. 
There was a move below the 23.6% Fib retracement level of the upward wave from the $0.4980 swing low to the $0.5225 high. However, the bulls are active near the $0.5140 zone. The price is still trading above $0.510 and the 100-hourly Simple Moving Average. 
Immediate resistance is near the $0.5195 level. The first key resistance is near $0.520. There is also a short-term declining channel forming with resistance at $0.520 on the hourly chart of the XRP/USD pair. <a href="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_7f9d06.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-608501 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_7f9d06.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_7f9d06.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_7f9d06.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_7f9d06.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_7f9d06.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_7f9d06.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_7f9d06.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_7f9d06.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A close above the $0.520 resistance zone could send the price higher. The next key resistance is near $0.5220. If the bulls push the price above the $0.5220 resistance level, there could be a fresh move toward the $0.5350 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 $0.520 resistance zone, it could slowly move down. Initial support on the downside is near the $0.5150 level. The next major support is at $0.5120. 
The main support is now near $0.510 and the 50% Fib retracement level of the upward wave from the $0.4980 swing low to the $0.5225 high. If there is a downside break and a close below the $0.510 level, the price might accelerate lower. In the stated case, the price could drop and test the $0.4980 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. 
Major Support Levels – $0.5120 and $0.5100. 
Major Resistance Levels – $0.5200 and $0.5220.

XRP Price Ready to Break Out? Price Action Points to Potential Surge

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