Bitcoin

Resistance

XRP price started a downside correction from the $0.6700 resistance. The bulls are now active above $0.5400 and might aim for a fresh increase. 
<ul> 
 <li>XRP started a fresh increase above the $0.600 resistance level.</li> 
 <li>The price is now trading above $0.550 and the 100 simple moving average (4 hours).</li> 
 <li>There was a break below a key rising channel with support at $0.610 on the 4-hour chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could start a fresh rally if there is a close above the $0.60 resistance zone.</li> 
</ul> 
<h2 id="xrp-price-revisits-support">XRP Price Revisits Support</h2> 
In the past few days, XRP price climbed higher from the $0.550 zone. There was a move above the $0.580 and $0.600 resistance levels. However, the upside was less compared to <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-crashes-60k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-drops-3200/" target="_blank" rel="noopener ">Ethereum</a>. 
The price even climbed above the $0.650 resistance before the bears appeared. A new multi-week high was formed near $0.6692 before the price dived. There was a strong bearish wave below the $0.620 support. There was a break below a key rising channel with support at $0.610 on the 4-hour chart of the XRP/USD pair. 
The pair even dived below the $0.600 level. A low was formed near $0.530 and the price is now attempting a fresh increase. There was a move above the $0.560 level and the 23.6% Fib retracement level of the downward move from the $0.6692 swing high to the $0.530 low. 
Ripple’s token price is now trading above $0.550 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.600 zone or the 50% Fib retracement level of the downward move from the $0.6692 swing high to the $0.530 low. 
The first key resistance is near $0.6240, above which the price could rise toward the $0.650 resistance. A close above the $0.650 resistance zone could spark a strong increase. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-596471" src="https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/XRP_Price.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 $0.680. If the bulls remain in action above the $0.680 resistance level, there could be a rally toward the $0.7050 resistance. Any more gains might send the price toward the $0.7320 resistance. 
<h2 id="another-decline">Another Decline?</h2> 
If XRP fails to clear the $0.60 resistance zone, it could start another decline. Initial support on the downside is near the $0.562 zone. 
The next major support is at $0.540 and a connecting bullish trend line. If there is a downside break and a close below the $0.540 level, the price might accelerate lower. In the stated case, the price could retest the $0.5120 support zone. 
Technical Indicators 
4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $0.5620, $0.540, and $0.5120. 
Major Resistance Levels – $0.600, $0.6240, and $0.650.

XRP Price Prediction: Dips Turn Attractive In Near Term As Bulls Lose Control

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