XRP price started a downside correction from the $0.580 resistance. The price could start a fresh rally unless there is a close below the $0.535 support. 
<ul> 
 <li>XRP is struggling to clear the $0.5650 and $0.580 resistance levels.</li> 
 <li>The price is now trading above $0.535 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support at $0.5350 on the 4-hour chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could start a fresh rally unless there is a close below the $0.535 support.</li> 
</ul> 
<h2 id="xrp-price-dips-to-key-support">XRP Price Dips To Key Support</h2> 
In the past few days, XRP price recovered higher from the $0.520 zone. There was a move above the $0.535 and $0.550 resistance levels. However, the bears remained active near the $0.580 resistance and protected more upsides, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-holds-ground-50500/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-retreats-from-3k/" target="_blank" rel="noopener ">Ethereum</a>. 
The recent high was formed at $0.5792 before there was a downside correction. There was a move below the $0.550 level. The price even tested the $0.535 support. A low is formed near $0.5322 and the price is now consolidating losses. 
Ripple’s token price is now trading above $0.535 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $0.5350 on the 4-hour chart of the XRP/USD pair. On the upside, immediate resistance is near the $0.5550 zone. It is close to the 50% Fib retracement level of the downward move from the $0.5793 swing high to the $0.5322 low. 
The first key resistance is near $0.5620 or the 61.8% Fib retracement level of the downward move from the $0.5793 swing high to the $0.5322 low, above which the price could rise toward the $0.580 resistance. A close above the $0.580 resistance zone could spark a strong increase. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_3d4a20.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-576307" src="https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_3d4a20.png?resize=1024%2C461" alt="XRP Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_3d4a20.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_3d4a20.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_3d4a20.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_3d4a20.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_3d4a20.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_3d4a20.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_3d4a20.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> 
The next key resistance is near $0.600. If the bulls remain in action above the $0.600 resistance level, there could be a rally toward the $0.620 resistance. Any more gains might send the price toward the $0.650 resistance. 
<h2 id="another-decline">Another Decline?</h2> 
If XRP fails to clear the $0.5550 resistance zone, it could start another decline. Initial support on the downside is near the $0.535 zone and the trend line. 
The next major support is at $0.5220. If there is a downside break and a close below the $0.5220 level, the price might accelerate lower. In the stated case, the price could retest the $0.480 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 – $0.535, $0.522, and $0.480. 
Major Resistance Levels – $0.555, $0.565, and $0.580.

XRP Price Prediction: Bulls Take Hit But This Level Could Trigger Another Increase

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