Bitcoin

Resistance

XRP price again struggled to continue higher above the $0.540 resistance. It is now consolidating near $0.5320 and might aim for an upside break. 
<ul> 
 <li>XRP is still facing many hurdles near the $0.5420 zone.</li> 
 <li>The price is now trading near $0.5320 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bullish trend line forming with support near $0.5265 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could start a fresh increase if the bulls remain active above the $0.5220 zone.</li> 
</ul> 
<h2 id="xrp-price-holds-support">XRP Price Holds Support</h2> 
In the past few sessions, XRP price traded in a positive zone like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-higher-70k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-new-peaks-4k/" target="_blank" rel="noopener ">Ethereum</a>. However, the bears were active near the $0.540 and $0.5420 resistance levels. 
The recent high was formed at $0.5405 and the price is now correcting gains in a range. There was a move below the $0.5340 support zone and the price spiked below the 50% Fib retracement level of the upward move from the $0.5234 swing low to the $0.5405 high. 
However, the bulls are active near the $0.530 zone and the 61.8% Fib retracement level of the upward move from the $0.5234 swing low to the $0.5405 high. There is also a connecting bullish trend line forming with support near $0.5265 on the hourly chart of the XRP/USD pair. 
The pair is now trading near $0.5320 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5365 level. The first key resistance is near $0.5420. A close above the $0.5420 resistance zone could send the price higher. The next key resistance is near $0.5450. <a href="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_c61515.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="wp-image-610138 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_c61515.png?resize=1024%2C449" alt="XRP Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_c61515.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_c61515.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_c61515.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_c61515.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_c61515.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_c61515.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_c61515.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
If there is a close above the $0.5450 resistance level, there could be a steady increase toward the $0.5550 resistance. Any more gains might send the price toward the $0.5720 resistance. 
<h2 id="more-downsides">More Downsides?</h2> 
If XRP fails to clear the $0.5420 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5265 level and the trend line. 
The next major support is at $0.520. If there is a downside break and a close below the $0.520 level, the price might gain bearish momentum. In the stated case, the price could decline and retest the $0.5120 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. 
Major Support Levels – $0.5300 and $0.5200. 
Major Resistance Levels – $0.5365 and $0.5420.

XRP Price Stuck in a Range: Will It Break Out Soon?

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