Bitcoin

Resistance

XRP price started a fresh decline after it failed near $0.5570. The price is now correcting gains and might decline heavily if it breaks the 100-hourly SMA. 
<ul> 
 <li>XRP struggled near the $0.5570 zone and trimmed gains.</li> 
 <li>The price is now trading below $0.5350 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bearish trend line forming with resistance at $0.5320 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair must stay above the 100-hourly SMA to avoid a sharp decline.</li> 
</ul> 
<h2 id="xrp-price-dips-again">XRP Price Dips Again</h2> 
After a steady increase, XRP price faced resistance near $0.5570. The price formed a short-term top and started a fresh decline from $0.5571, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-support-68800/" target="_blank" rel="noopener ">Bitcoin</a> and Ethereum. 
There was a move below the $0.5420 level. The price dipped below the 50% Fib retracement level of the upward move from the $0.5065 swing low to the $0.5571 high. The price even spiked below the $0.5250 support and the <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-hold-100-sma-0-520/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. 
However, the bulls are protecting the 61.8% Fib retracement level of the upward move from the $0.5065 swing low to the $0.5571 high. It is now trading above $0.5250 and the 100-hourly Simple Moving Average. 
Immediate resistance is near the $0.5310 level. There is also a connecting bearish trend line forming with resistance at $0.5320 on the hourly chart of the XRP/USD pair. The first key resistance is near $0.5350. A close above the $0.5350 resistance zone could send the price higher. <a href="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_15106a.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="wp-image-609390 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_15106a.png?resize=1024%2C449" alt="XRP Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_15106a.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_15106a.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_15106a.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_15106a.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_15106a.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_15106a.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_15106a.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The next key resistance is near $0.5450. If the bulls push the price above the $0.5450 resistance level, there could be a steady increase toward the $0.5570 resistance. Any more gains might send the price toward the $0.5650 resistance. 
<h2 id="more-downsides">More Downsides?</h2> 
If XRP fails to clear the $0.5350 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5250 level and the 100 hourly SMA. 
The next major support is at $0.5185. If there is a downside break and a close below the $0.5185 level, the price might gain bearish momentum. In the stated case, the price could decline and test the $0.5065 support in the near term. 
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 – $0.5250 and $0.5185. 
Major Resistance Levels – $0.5350 and $0.5450.

XRP Price Turns Red Again: What’s Next for the Crypto?

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