Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/xrp-price-struggles-with-key-resistance-levels/" data-wpel-link="internal">XRP Price Struggles with Key Resistance Levels</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/ripple-acquires-licensed-company-to-bolster-growth/" data-wpel-link="internal">XRP</a></strong>‘s price has been somewhat volatile lately. If stability is to be mentioned, the price has maintained the critical support level of $0.500. However, if it fails to recover above the resistance area of $0.530, the asset could face further losses. Which levels are prominent for XRP?</p> 
<h2 style="text-align: justify" id="xrp-price-losses-expand">XRP Price Losses Expand</h2> 
<p style="text-align: justify">According to recent data, XRP’s price losses have expanded, and the asset began trading below the $0.530 support level. Currently, the price is trading below the $0.5250 level. This situation creates some uncertainty in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a>, while technical analyses show a breakout above a downtrend line connected to the $0.5150 resistance.</p> 
<p style="text-align: justify"><a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">Investors</a> are focusing on the XRP/USD pair’s chart, closely monitoring the price movement. Notably, there was a brief increase above the $0.5120 resistance. However, the asset is still trading below the $0.5250 level. This situation is putting some pressure on the price.</p> 
<h2 style="text-align: justify" id="current-instant-resistance">Current Instant Resistance</h2> 
<p style="text-align: justify">Currently, there is instant resistance near the $0.5250 level. At this point, a close above the $0.530 resistance area could trigger a strong rise and direct the price upwards.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-349801 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/xrp-usdt.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">A key point for XRP is also the critical resistance level around $0.5465. If bulls manage to move above this level, an asset rally towards the $0.580 resistance could begin. However, the price will need to gain more to progress towards the $0.600 resistance.</p> 
<h2 style="text-align: justify" id="xrp-fails-to-surpass-0-53">XRP Fails to Surpass $0.53</h2> 
<p style="text-align: justify">Recently, XRP has failed to surpass the $0.530 resistance area, and a downward trend has become apparent once again. According to technical analyses, the first support level on the downside is around $0.51. However, a deeper decline could bring the main support at $0.5080 into significance.</p> 
<p style="text-align: justify">If a close below the $0.5080 level occurs, a further decline in price is anticipated. In this scenario, it is expected that XRP will test the $0.4840 support area. Looking at technical indicators, the hourly <strong>MACD</strong> is losing momentum in the bearish zone for XRP/USD.</p> 
<p style="text-align: justify">Similarly, the hourly <strong>RSI</strong> (Relative Strength Index) is also trending below the 50 level. This indicates that XRP’s current trend is bearish, highlighting the need for <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> to be cautious. The main support levels are $0.5100 and $0.5080, but potential rises should watch for resistance levels at $0.5250 and $0.530.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/xrp-price-struggles-with-key-resistance-levels/" data-wpel-link="internal">XRP Price Struggles with Key Resistance Levels</a></h5>

XRP Price Struggles with Key Resistance Levels

Spis treści

COINTURK NEWS

Inne artykuły opublikowane 10 maj 2024

Lightning Labs: Stablecoins on Bitcoin Coming Soon

EigenLayer Airdrop Is Now Updated After Facing Controversy From Users

House to Vote on Combined Crypto Rules and Anti-CBDC Legislation

New Horizons in DeFi: RCO Finance Secures $250K Investment to Expand Its Innovative DeFi Card Ser...

SBF finds new currency to trade in Jail, reveals report

Solana’s SOL Gains 8% Amid Insider’s $153K Minette Windfall

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!