Resistance

XRP price struggled to surpass the $0.500 resistance zone. The price is moving lower and showing bearish signs for a move below the $0.4850 support. 
<ul> 
 <li>XRP price faced another rejection near the $0.50 resistance zone.</li> 
 <li>The price is now trading below $0.4950 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break below a short-term rising channel with support at $0.4920 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could extend losses if there is a close below the $0.4850 support zone.</li> 
</ul> 
<h2 id="xrp-price-dips-again">XRP Price Dips Again</h2> 
XRP price attempted a fresh increase above the $0.4950 resistance zone. It even spiked above the $0.50 resistance but there was no real bullish momentum. A high was formed at $0.5019 and the price started a fresh decline like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-dips-again-65k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was a move below the $0.4980 and $0.4950 levels. There was a break below a short-term rising channel with support at $0.4920 on the hourly chart of the XRP/USD pair. The pair even traded below the 50% Fib retracement level of the upward move from the $0.4765 swing low to the $0.5019 high. 
The price is now trading below $0.4950 and the <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-stuck-0-50/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. The bulls seem to be active near the $0.4850 support and the 61.8% Fib retracement level of the upward move from the $0.4765 swing low to the $0.5019 high. 
If there is a fresh increase, the price might face hurdles near the $0.4950 level. The first major resistance is near the $0.50 and $0.5020 levels. A clear move above the $0.5020 resistance might send the price toward the $0.5150 resistance. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_ff3efb.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-625758 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_ff3efb.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_ff3efb.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_ff3efb.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_ff3efb.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_ff3efb.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_ff3efb.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_ff3efb.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_ff3efb.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The next major resistance is near the $0.5250 level. A close above the $0.5250 resistance zone could send the price higher. The next key resistance is near $0.5320. Any more gains might send the price toward the $0.550 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.50 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4850 level. 
The next major support is at $0.4765. If there is a downside break and a close below the $0.4765 level, the price might gain bearish momentum. In the stated case, the price could even trade below the $0.4540 low 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 – $0.4850 and $0.4765. 
Major Resistance Levels – $0.5020 and $0.5150.

XRP Price Under Siege: Losses Likely to Extend Amid Market Weakness

Зміст

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