Bitcoin

Resistance

Gains

XRP price is slowly moving higher above the $0.5200 zone. It is now facing hurdles near $0.5320 and might correct lower in the near term. 
<ul> 
 <li>XRP is attempting a fresh increase above the $0.5250 zone.</li> 
 <li>The price is now trading above $0.5220 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break below a key bullish trend line with support at $0.5260 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could correct lower toward the $0.5220 support before the bulls appear again.</li> 
</ul> 
<h2 id="xrp-price-gains-traction">XRP Price Gains Traction</h2> 
XRP price remained well-supported above the $0.5120 zone and extended its increase like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-climbs-70k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-stuck-3840/" target="_blank" rel="noopener ">Ethereum</a>. The price was able to clear the $0.5200 and $0.5250 levels. 
There was a clear move above the $0.5300 resistance and the price tested the $0.5320 zone. A high was formed at $0.5325 and the price is now correcting gains. It traded below the 23.6% Fib retracement level of the upward move from the $0.5080 swing low to the $0.5325 high. 
There was also a break below a key bullish trend line with support at $0.5260 on the hourly chart of the XRP/USD pair. The pair is now trading above $0.5220 and the 100-hourly Simple Moving Average. 
On the upside, the price is facing resistance near the $0.5200 level. The first key resistance is near $0.5320. The next major resistance is near the $0.5350 level. A close above the $0.5350 resistance zone could send the price higher. The next key resistance is near $0.550. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f74938.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="wp-image-611675 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f74938.png?resize=1024%2C449" alt="XRP Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f74938.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f74938.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f74938.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f74938.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f74938.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f74938.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f74938.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 $0.550 resistance level, there could be a steady increase toward the $0.5560 resistance. Any more gains might send the price toward the $0.5650 resistance. 
<h2 id="more-losses">More Losses?</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 $0.5260 level. 
The next major support is at $0.5200 or the 50% Fib retracement level of the upward move from the $0.5080 swing low to the $0.5325 high. If there is a downside break and a close below the $0.520 level, the price might accelerate lower. 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 below the 50 level. 
Major Support Levels – $0.5260 and $0.5220. 
Major Resistance Levels – $0.5300 and $0.5320.

XRP Price Faces Hurdles: Will It Overcome the Obstacles?

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