XRP Price Prediction – Will Bearish Trend Push Prices Under $0.50?

XRP
price
is
struggling
to
recover
above
the
$0.520
resistance.
The
price
could
gain
bearish
momentum
if
it
breaks
the
$0.50
support.

• XRP
  is
  attempting
  a
  fresh
  increase
  and
  facing
  hurdles
  near
  $0.520.
• The
  price
  is
  now
  trading
  near
  $0.5150
  and
  the
  100
  simple
  moving
  average
  (4
  hours).
• There
  is
  a
  major
  bearish
  trend
  line
  forming
  with
  resistance
  at
  $0.520
  on
  the
  4-hour
  chart
  of
  the
  XRP/USD
  pair
  (data
  source
  from
  Kraken).
• The
  pair
  could
  gain
  bullish
  momentum
  if
  there
  is
  a
  close
  above
  the
  $0.520
  resistance.

XRP
Price
Aims
Upside
Break

Recently,
XRP
price
climbed
above
the

$0.550
resistance
and
tested
$0.570.
A
high
was
formed
at
$0.5705
before
there
was
a
pullback
like

Bitcoin
and
Ethereum.
The
price
dipped
below
the
$0.5250
support
zone.

It
even
spiked
below
$0.500
and
tested
$0.4980.
A
low
was
formed
at
$0.4990
and
the
price
is
now
consolidating
near
the
23.6%
Fib
retracement
level
of
the
downward
move
from
the
$0.5705
swing
high
to
the
$0.4990
low.
It
also
trades
near
$0.5150
and
the
100
simple
moving
average
(4
hours).

Immediate
resistance
is
near
the
$0.520
level.
There
is
also
a
major
bearish
trend
line
forming
with
resistance
at
$0.520
on
the
4-hour
chart
of
the
XRP/USD
pair.

Source:

XRPUSD
on
TradingView.com

The
next
key
resistance
is
near
$0.5350
or
the
50%
Fib
retracement
level
of
the
downward
move
from
the
$0.5705
swing
high
to
the
$0.4990
low.
A
close
above
the
$0.5350
resistance
zone
could
spark
a
strong
increase.
The
next
key
resistance
is
near
$0.570.
If
the
bulls
remain
in
action
above
the
$0.570
resistance
level,
there
could
be
a
rally
toward
the
$0.620
resistance.
Any
more
gains
might
send
the
price
toward
the
$0.680
resistance.

More
Losses?

If
XRP
fails
to
clear
the
$0.520
resistance
zone,
it
could
start
another
decline.
Initial
support
on
the
downside
is
near
the
$0.500
level.

The
next
major
support
is
at
$0.490.
If
there
is
a
downside
break
and
a
close
below
the
$0.490
level,
the
price
might
accelerate
lower.
In
the
stated
case,
the
price
could
retest
the
$0.460
support
zone.

Technical
Indicators

4-Hours
MACD
–
The
MACD
for
XRP/USD
is
now
gaining
pace
in
the
bullish
zone.

4-Hours
RSI
(Relative
Strength
Index)
–
The
RSI
for
XRP/USD
is
now
near
the
50
level.

Major
Support
Levels
–
$0.500,
$0.4990,
and
$0.460.

Major
Resistance
Levels
–
$0.520,
$0.5350,
and
$0.570.

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