Bitcoin

Resistance

XRP price is consolidating losses above the $0.500 support. The price could extend losses if it fails to recover above the $0.530 resistance zone. 
<ul> 
 <li>XRP extended losses and traded below the $0.530 support.</li> 
 <li>The price is now trading below $0.5250 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a connecting bearish trend line with resistance at $0.5150 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could start another increase if the bulls push the price above $0.530.</li> 
</ul> 
<h2 id="xrp-price-stable-above-0-50">XRP Price Stable Above $0.50</h2> 
Recently, XRP price extended losses and traded below the $0.5250 support, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-recovery-63200/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-increase-3080/" target="_blank" rel="noopener ">Ethereum</a>. There was a move toward the $0.5080 support. A low was formed at $0.5087 and the price is now consolidating losses. 
There was a minor increase above the $0.5120 resistance. Besides, there was a break above a connecting bearish trend line with resistance at $0.5150 on the hourly chart of the XRP/USD pair. However, the pair is still trading below $0.5250 and the 100-hourly Simple Moving Average. 
Immediate resistance is near the $0.5250 level. It is near the 23.6% Fib retracement level of the downward move from the $0.5699 swing high to the $0.5087 low. The first key resistance is near $0.530 and the 100-hourly Simple Moving Average. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_b075f9.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-607327" src="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_b075f9.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_b075f9.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_b075f9.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_b075f9.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_b075f9.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_b075f9.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_b075f9.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_b075f9.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> 
A close above the $0.530 resistance zone could spark a strong increase. The next key resistance is near $0.5465. If the bulls remain in action above the $0.5465 resistance level, there could be a rally toward the $0.580 resistance. Any more gains might send the price toward the $0.600 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.530 resistance zone, it could start another decline. Initial support on the downside is near the $0.5150 level. 
The next major support is at $0.5080. If there is a downside break and a close below the $0.5080 level, the price might accelerate lower. In the stated case, the price could retest the $0.4840 support zone. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $0.5150 and $0.5080. 
Major Resistance Levels – $0.5250 and $0.530.

XRP Price Consolidates Below $0.530: What Could Trigger More Losses?

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