Show

Momentum

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereums-surge-shakes-crypto-market-as-xrp-struggles/" data-wpel-link="internal">Ethereum’s Surge Shakes Crypto Market as XRP Struggles</a><br></p>
<p style="text-align: justify">The <a href="https://en.coin-turk.com/crypto-currency-exchange-digift-receives-regulatory-approval-from-mas/" data-wpel-link="internal">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> was shaken last night by Ethereum’s impressive rise, while <strong>XRP</strong> continued its uncertain path. XRP’s participation in the rise led by ETH was limited. At the time of writing, XRP was at $0.53.</p> 
<h2 style="text-align: justify" id="xrp-struggles-to-overcome-resistance-levels">XRP Struggles to Overcome Resistance Levels</h2> 
<p style="text-align: justify">Looking at XRP’s recent performance, we can see that it started an increase above the $0.5150 resistance level. Currently, the price is trading above the $0.5250 level. Notably, there was a break above a significant downtrend line at $0.520 resistance on the hourly chart of the <strong>XRP/USD</strong> pair. This indicates that the bulls are gaining momentum and the price has significant upward potential in the near term.</p> 
<p style="text-align: justify">XRP’s recovery wave was triggered by Ethereum’s rise of over 20% and Bitcoin surpassing the $70,000 level. However, we see that the price is currently correcting its gains. The immediate resistance level for XRP is shown as $0.5380. However, the first key resistance is around $0.5420. A close above this level could push the price higher and open the way towards the next key resistance level around $0.5550.</p> 
<p style="text-align: justify">Investors should note that if XRP surpasses the $0.5550 resistance level, a new move towards the $0.5650 resistance could be possible. Further gains could push the price to the $0.5720 resistance, thus determining XRP’s performance in the coming days.</p> 
<h2 style="text-align: justify" id="xrp-price-analysis-0-5380-resistance-zone-plays-a-critical-role">XRP Price Analysis: $0.5380 Resistance Zone Plays a Critical Role</h2> 
<p style="text-align: justify">The current state of XRP highlights the importance of the $0.5380 resistance zone as a critical determinant for <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> movements. As of now, if XRP fails to surpass the $0.5380 resistance zone, it could initiate a downward correction. In this case, the initial support on the downside will be near the $0.5310 level. However, if a more significant decline occurs, the next major support is at the $0.5250 level.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-353792 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/XRPUSDT_2024-05-21_09-02-50.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">A break below the $0.5220 level and a close below this level could accelerate the price towards lower levels. In this scenario, XRP’s price might drop and test the $0.5065 support in the near term.</p> 
<h2 style="text-align: justify" id="technical-indicators-show-slowing-momentum">Technical Indicators Show Slowing Momentum</h2> 
<p style="text-align: justify">Looking at the technical indicators, the hourly MACD for XRP/USD is losing momentum in the bullish zone. However, the hourly RSI (Relative Strength Index) is above the 50 level for XRP/USD. This level can be interpreted as a potential bullish signal for the price.</p> 
<p style="text-align: justify">The main support levels are $0.5310 and $0.5220, while the main resistance levels are $0.5380 and $0.5420.</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/ethereums-surge-shakes-crypto-market-as-xrp-struggles/" data-wpel-link="internal">Ethereum’s Surge Shakes Crypto Market as XRP Struggles</a></h5>

Ethereum’s Surge Shakes Crypto Market as XRP Struggles

Table of Contents

COINTURK NEWS

Other articles published on May 21, 2024

Bitcoin shorts worth $1.4B at risk of liquidation if BTC price hits $74.3K

Inside Shards.Tech: Redesigning Game Ownership and Revenue Sharing – a Corey Wilton Exclusive

SEC Seeks Changes To Ether ETF Filings, Raising Approval Hopes

Ether Futures Surge to Record Highs as Open Interest Tops $14 Billion

Bitcoin (BTC) and Ethereum (ETH) Investors Are Betting on These Tokens

SpaceX Hits Major Milestone, Community Expects DOGE to the Moon

Join our free newsletter for daily crypto updates!