Bitcoin

Resistance

XRP price started a fresh decline from the $0.5320 resistance zone. It is now testing the $0.5180 support and might even test the $0.5120 support zone. 
<ul> 
 <li>XRP failed near $0.5320 and started a downside correction.</li> 
 <li>The price is now trading below $0.5250 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bearish trend line forming with resistance near $0.5250 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could dip further if it stays below the $0.5250 resistance zone.</li> 
</ul> 
<h2 id="xrp-price-dips-again">XRP Price Dips Again</h2> 
XRP price extended its increase above the $0.5265 level like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-dips-again-70k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-pulls-back-3880/" target="_blank" rel="noopener ">Ethereum</a>. The price even spiked above the $0.5300 level before the bears appeared. 
A high was formed at $0.5325 and the price started a downside correction. There was a move below the $0.5250 level. It traded below the 50% Fib retracement level of the upward wave from the $0.5080 swing low to the $0.5325 high. 
The price is now trading below $0.5250 and the 100-hourly Simple Moving Average. However, the bulls are active near the 61.8% Fib retracement level of the upward wave from the $0.5080 swing low to the $0.5325 high. 
On the upside, the price is facing resistance near the $0.5250 level. There is also a connecting bearish trend line forming with resistance near $0.5250 on the hourly chart of the XRP/USD pair. The first key resistance is near $0.5300. The next major resistance is near the $0.5320 level. A close above the $0.5320 resistance zone could send the price higher. The next key resistance is near $0.5450. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_93e2d0.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="wp-image-611857 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_93e2d0.png?resize=1024%2C449" alt="XRP Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_93e2d0.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_93e2d0.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_93e2d0.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_93e2d0.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_93e2d0.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_93e2d0.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_93e2d0.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 $0.5520 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 $0.5250 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5165 level. 
The next major support is at $0.5120. If there is a downside break and a close below the $0.5120 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.5020 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $0.5165 and $0.5120. 
Major Resistance Levels – $0.5250 and $0.5320.

XRP Price Dips To Support, Can It Bounce Back And Restart Increase?

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