Convergence

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/xrp-faces-downtrend-after-resistance" rel="noopener noreferrer nofollow">XRP Faces Downtrend After Resistance</a><br></p>
<p style="text-align: justify">The cryptocurrency market has been witnessing notable fluctuations, with <a href="https://en.bitcoinhaber.net/xrp-wallet-update-sparks-excitement-with-impending-mastercard-integration" rel="noopener noreferrer nofollow">XRP</a> experiencing a significant impact. XRP’s inability to break the $0.530 resistance level has led to a renewed downtrend. The price has now fallen below the $0.5150 threshold, signaling potential challenges ahead.</p>
<h2 id="key-levels-to-monitor">Key Levels to Monitor</h2>
<p style="text-align: justify">Recently, XRP attempted to surpass the $0.5300 mark but was unsuccessful, leading to a decline. Currently trading above $0.5150, XRP saw a break below a key contracting triangle with support at $0.520 on the hourly chart of the XRP/USD pair. This break suggests that if the price dips below $0.500, the bearish momentum may intensify.</p>
<p style="text-align: justify">After experiencing an upward movement, XRP faced resistance around the $0.530 region, peaking at $0.5293. From this point, the price began a downward correction, similar to other major cryptocurrencies such as Bitcoin and Ethereum, moving below the $0.5220 mark, crossing a vital level.</p>
<h2 id="will-there-be-further-declines">Will There Be Further Declines?</h2>
<p style="text-align: justify">XRP is finding it difficult to break past the $0.52 resistance zone, raising concerns among <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a>. Should this resistance remain unbreached, XRP’s price could see additional declines, creating unease in the market.</p>
<h2 id="critical-support-levels">Critical Support Levels</h2>
<p style="text-align: justify">Investors should pay attention to the following points:</p>
<ul>
 <li>The first critical downward support level for XRP is at $0.5045.</li>
 <li>A drop below $0.5045 could lead to a decline toward the $0.500 support level.</li>
 <li>The main support is at $0.4965; a fall below this could result in a sharper decline.</li>
 <li>If the price tests the support at $0.4840, it could signal significant market panic.</li>
</ul>
<p style="text-align: justify">Technical indicators also corroborate the likelihood of a decline. The hourly MACD (Moving Average Convergence Divergence) shows growing momentum in the bearish zone, indicating a strengthening downtrend. Similarly, the hourly RSI (Relative Strength Index) is below the 50 level, signifying that selling pressure is dominating the market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/xrp-faces-downtrend-after-resistance" rel="noopener noreferrer nofollow">XRP Faces Downtrend After Resistance</a></h5>

XRP Faces Downtrend After Resistance

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