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

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