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Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/xrp-shows-potential-for-price-increase/" data-wpel-link="internal">XRP Shows Potential for Price Increase</a><br></p>
<p style="text-align: justify">We can say that XRP, which is at 2019 levels in terms of price in the <a href="https://en.coin-turk.com/us-data-and-federal-reserve-impact-on-markets/" data-wpel-link="internal">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a>, has put its <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> in a difficult position. Its performance above the $0.5100 resistance has been noticeable recently. Currently, if the price surpasses the $0.520 and $0.5220 resistance levels, it may gain upward momentum.</p> 
<h2 style="text-align: justify" id="is-there-an-expectation-for-a-new-increase-for-xrp">Is There an Expectation for a New Increase for XRP?</h2> 
<p style="text-align: justify">XRP is in anticipation of a new increase above the $0.520 level. It is currently trading around $0.510. There is a short-term downward channel in the hourly chart of the XRP/USD pair. However, if this channel closes above the $0.520 resistance, a new upward trend may begin.</p> 
<p style="text-align: justify">XRP’s price has been steadily rising recently. However, a minor correction occurred with the resistance appearing around $0.520. This correction may have been influenced by other cryptocurrencies like Bitcoin and Ethereum, which are affected by general market movements. XRP’s immediate resistance is around $0.5195. However, the main important resistance level is around $0.520. Additionally, the downward channel with $0.520 resistance visible in the hourly chart should be considered.</p> 
<p style="text-align: justify">A close above the $0.520 resistance level could push the price further up. The next critical resistance is around $0.5220. If the bulls push the price above this level, a new move towards the $0.5350 resistance is expected. Further gains could lead the price towards the $0.550 resistance.</p> 
<h2 style="text-align: justify" id="levels-to-watch-below">Levels to Watch Below</h2> 
<p style="text-align: justify">If XRP’s price fails to surpass the $0.520 resistance region, concerns about its <a href="https://newslinker.co/" data-wpel-link="exclude">future</a> increase. In this case, the cryptocurrency may slowly move downward. Currently, the first support point for the downward movement is around $0.5150. Further down, there is significant support at the $0.5120 level.</p> 
<p style="text-align: justify">The main support currently lies in the region between $0.510 and $0.4980. If the price falls below the $0.510 level and closes below this level, further declines in XRP’s price should be expected. In this scenario, the price is likely to decline further and test the $0.4980 level in the near term.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-352347 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/XRPUSDT.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">Looking at technical indicators, the four-hour MACD is gaining upward momentum for XRP/USD. Similarly, the four-hour RSI (Relative Strength Index) is also above the 50 level for XRP/USD. These indicators suggest that the price may be in an upward trend in the near term.</p> 
<p style="text-align: justify">The main support levels are determined as $0.5120 and $0.5100, while the main resistance levels are highlighted as $0.5200 and $0.5220. These levels could be decisive in the future movements of the price and mark points that investors should carefully monitor.</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/xrp-shows-potential-for-price-increase/" data-wpel-link="internal">XRP Shows Potential for Price Increase</a></h5>

XRP Shows Potential for Price Increase

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