XRP price is attempting a recovery above $0.5050, needing to clear the $0.5250 and $0.5320 resistance levels to continue its upward trend. Currently trading above $0.5200 and the 100-hourly Simple Moving Average, it is working to establish bullish momentum.
XRP struggles to keep up with Bitcoin and Ethereum. Although it has rallied from a $0.4880 low, the price is encountering a significant resistance band starting at $0.5250. Despite surpassing a 50% Fib retracement level, the price must now aim for higher resistance levels.
If XRP manages to break through the $0.5350 resistance, it could escalate towards $0.5500 and potentially higher. If not, the possibility exists for a retreat to $0.5000 or lower, testing supports at $0.5150 and $0.5085.
Technical indicators like the MACD and RSI are suggesting bullish potential, but the market's next directions remain cautious amidst resistance challenges.
