Bitcoin

Resistance

XRP price tumbled and dived below the $0.400 support zone. The price is consolidating losses and might struggle to recover above the $0.4150 resistance. 
<ul> 
 <li>XRP price gained bearish momentum below the $0.4240 support zone.</li> 
 <li>The price is now trading below $0.4250 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bearish trend line forming with resistance at $0.4150 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair might recover, but the upsides might be limited above $0.4050 and $0.4150.</li> 
</ul> 
<h2 id="xrp-price-takes-hit">XRP Price Takes Hit</h2> 
XRP price struggled to clear the $0.4550 resistance and started a fresh decline, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-turns-red-55k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-dives-below-3k-2/" target="_blank" rel="noopener ">Ethereum</a>. The bears took control and pushed the price below the $0.4240 support. 
The pair even declined heavily below the $0.4150 support level. Finally, it even spiked below the $0.400 support. A low was formed at $0.3826 and the price is now correcting losses. There was a recovery wave above the $0.3920 resistance. 
The price climbed above the 23.6% Fib retracement level of the recent decline from the $0.4467 swing high to the $0.3862 low. It is now trading below $0.4250 and the 100-hourly Simple Moving Average. 
On the upside, the price is facing resistance near the $0.4050 level. The first major resistance is near the $0.4150 level and the 50% Fib retracement level of the recent decline from the $0.4467 swing high to the $0.3862 low. There is also a key bearish trend line forming with resistance at $0.4150 on the hourly chart of the XRP/USD pair. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_20362f.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-627979 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_20362f.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_20362f.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_20362f.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_20362f.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_20362f.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_20362f.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_20362f.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_20362f.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The next key resistance could be $0.4220. A clear move above the $0.4220 resistance might send the price toward the $0.4380 resistance. The next major resistance is near the $0.4450 level. Any more gains might send the price toward the $0.4650 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.4150 resistance zone, it could start another decline. Initial support on the downside is near the $0.390 level. 
The next major support is at $0.3850. If there is a downside break and a close below the $0.3850 level, the price might continue to decline toward the $0.3620 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 – $0.390 and $0.3850. 
Major Resistance Levels – $0.4050 and $0.4150.

XRP Price Crashes 15%, Slips Under $0.40: Difficult Recovery Ahead

Table of Contents

NewsBTC

Other articles published on Jul 5, 2024

Rollblock Staking Rewards Could Steal The Show And Draw XRP and BCH Holders

Cryptocurrency Filecoin Decreases More Than 9% Within 24 hours

High Court Freezes Craig Wright Assets, Orders £1.548M Payment Of Legal Fees

Crypto Billionaire Justin Sun Offers To Buy Bitcoin Off-Market From German Government To Minimize...

EBA Expands Crypto Guidelines

Analysts Maintain Optimism for Ethereum Despite Recent Price Drop

Join our free newsletter for daily crypto updates!