Ethereum

Resistance

XRP price declined heavily from the $0.5250 resistance zone. It tested the $0.4540 support zone and is now attempting to recover above $0.4880. 
<ul> 
 <li>XRP is correcting losses above the $0.4820 and $0.4840 levels.</li> 
 <li>The price is now trading below $0.5050 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bullish trend line forming with support at $0.4950 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could dip again if it stays below the $0.5050 resistance zone.</li> 
</ul> 
<h2 id="xrp-price-takes-hit">XRP Price Takes Hit</h2> 
XRP price started a major decline like <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-battles-3740/" target="_blank" rel="noopener ">Ethereum</a> and declined below the $0.50 support. The price even spiked below the $0.4650 support zone. A low was formed at $0.4533 and the price is now correcting losses. 
There was a move above the <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-dips-0-5120/" target="_blank" rel="noopener ">$0.470 and $0.4750 resistance levels</a>. The price climbed above the 50% Fib retracement level of the downward move from the $0.5271 swing high to the $0.4533 low. There is also a connecting bullish trend line forming with support at $0.4950 on the hourly chart of the XRP/USD pair. 
The pair is slowly moving above the 61.8% Fib retracement level of the downward move from the $0.5271 swing high to the $0.4533 low. However, it is still trading below $0.5050 and the 100-hourly Simple Moving Average. 
On the upside, the price is facing resistance near the $0.500 level. The first key resistance is near $0.5050. The next major resistance is near the $0.5120 level. A close above the $0.5120 resistance zone could send the price higher. The next key resistance is near $0.5250. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_98c1a1.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-612164 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_98c1a1.png?resize=1024%2C461" alt="XRP Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_98c1a1.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_98c1a1.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_98c1a1.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_98c1a1.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_98c1a1.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_98c1a1.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_98c1a1.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
If there is a close above the $0.5250 resistance level, there could be a steady increase toward the $0.5320 resistance. Any more gains might send the price toward the $0.550 resistance. 
<h2 id="another-drop">Another Drop?</h2> 
If XRP fails to clear the $0.5050 resistance zone, it could start another decline. Initial support on the downside is near the $0.4950 level and the trend line. 
The next major support is at $0.4900. If there is a downside break and a close below the $0.490 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.4740 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 above the 50 level. 
Major Support Levels – $0.4950 and $0.4900. 
Major Resistance Levels – $0.500 and $0.5050.

XRP Price Rebound in Jeopardy: Recovery May Falter

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