Bitcoin

Resistance

XRP price is struggling to recover above the $0.5140 resistance. The price must stay above the $0.4550 support to attempt a fresh increase in the near term. 
<ul> 
 <li>XRP is attempting a recovery wave above the $0.450 zone.</li> 
 <li>The price is now trading below $0.550 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bearish trend line forming with resistance at $0.5440 on the 4-hour chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could gain bearish momentum if there is a close below the $0.4550 support.</li> 
</ul> 
<h2 id="xrp-price-turns-red">XRP Price Turns Red</h2> 
After a steady increase, XRP price struggled to clear the <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-bullish-streak-0-60/" target="_blank" rel="noopener ">$0.6420 resistance</a>. It started a fresh decline below the $0.600 support, like Bitcoin and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-stuck-3k/" target="_blank" rel="noopener ">Ethereum</a>. There was a sharp move below the $0.500 support. 
Finally, the price tested the $0.3880 zone. A low was formed at $0.3875 and the price started a recovery wave. There was a move above the $0.40 and $0.450 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.6420 swing high to the $0.3875 low. 
The price is now trading below $0.550 and the 100 simple moving average (4 hours). Immediate resistance is near the $0.5140 level and the 50% Fib retracement level of the downward move from the $0.6420 swing high to the $0.3875 low. 
The next key resistance is near $0.540. There is also a key bearish trend line forming with resistance at $0.5440 on the 4-hour chart of the XRP/USD pair. A close above the $0.540 resistance zone could spark a strong increase. The next key resistance is near $0.600. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price_6f9605.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-603635" src="https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price_6f9605.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price_6f9605.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price_6f9605.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price_6f9605.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price_6f9605.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price_6f9605.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price_6f9605.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/XRP_Price_6f9605.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/XRPUSD/" target="_blank" rel="noopener nofollow">XRPUSD on TradingView.com</a> 
If the bulls remain in action above the $0.600 resistance level, there could be a rally toward the $0.6240 resistance. Any more gains might send the price toward the $0.700 resistance. 
<h2 id="another-decline">Another Decline?</h2> 
If XRP fails to clear the $0.5440 resistance zone, it could start another decline. Initial support on the downside is near the $0.480 level. 
The next major support is at $0.4550. If there is a downside break and a close below the $0.4550 level, the price might accelerate lower. In the stated case, the price could retest the $0.420 support zone. 
Technical Indicators 
4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $0.480, $0.4550, and $0.420. 
Major Resistance Levels – $0.5140, $0.5440, and $0.600.

XRP Price Recovery Could Soon Fade, These Are Key Levels To Watch

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