Bitcoin

Resistance

XRP price struggled to recover above the $0.480 resistance zone. The price is again moving lower and might drop below the $0.4680 support. 
<ul> 
 <li>XRP price failed to extend gains above the $0.4800 resistance zone.</li> 
 <li>The price is now trading below $0.4750 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a major bearish trend line forming with resistance at $0.4720 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair might again face rejections near $0.4720 and $0.480.</li> 
</ul> 
<h2 id="xrp-price-retreats">XRP Price Retreats</h2> 
XRP price attempted a recovery wave above the $0.4720 level like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-dive-60k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-roadblocks-3450/" target="_blank" rel="noopener ">Ethereum</a>. However, the bears were active near the $0.480 resistance zone. A high was formed at $0.4797 and the price started a fresh decline. 
There was a move below the $0.4750 and $0.4720 levels. The price declined below the 50% Fib retracement level of the upward move from the $0.4619 swing low to the $0.4797 high. There is also a major bearish trend line forming with resistance at $0.4720 on the hourly chart of the XRP/USD pair. 
The price is now trading below $0.4750 and the 100-hourly Simple Moving Average. However, it is finding bids near the 61.8% Fib retracement level of the upward move from the $0.4619 swing low to the $0.4797 high. 
On the upside, the price is facing resistance near the $0.4720 level. The first major resistance is near the $0.4750 level. The main hurdle is still near $0.480. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a9b2d8.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-626610 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a9b2d8.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a9b2d8.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a9b2d8.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a9b2d8.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a9b2d8.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a9b2d8.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a9b2d8.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a9b2d8.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A clear move above the $0.480 resistance might send the price toward the $0.4850 resistance. The next major resistance is near the $0.500 level. A close above the $0.500 resistance zone could send the price higher. The next key resistance is near $0.5120. Any more gains might send the price toward the $0.5250 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.4720 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4680 level. 
The next major support is at $0.4620. If there is a downside break and a close below the $0.4620 level, the price might continue to decline. In the stated case, the price could even trade below the $0.4320 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 – $0.4680 and $0.4620. 
Major Resistance Levels – $0.4720 and $0.4800.

XRP Price Dips Again: What’s Causing The Continued Slide?

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