XRP price experienced a decline, testing the $0.5120 zone. It is now attempting to recover and clear the $0.5320 resistance. Currently trading below $0.5400 and the 100-hourly SMA, XRP might see bullish momentum if it surpasses the $0.5350 resistance.
Despite previous failures to start a fresh increase and further losses below $0.5320, XRP is correcting, showing a move above the 23.6% Fib retracement level from a decline to $0.5117 low. It surpassed a bearish trend line at $0.5280 resistance.
The price currently faces resistance at various levels, including $0.5350, $0.5400, and $0.5420, each representing significant retracement levels of the previous decline. Clearing these could trigger an upward move toward $0.5485 and $0.5550, with $0.5800 as a potential major hurdle.
Failure to clear $0.5350 may prompt a decline. Initial support lies at $0.5230, followed by $0.5200. A clear break below $0.5200 may drag the price lower toward $0.5120 and possibly $0.5050 in the near term.
Technical indicators show the hourly MACD is gaining pace in the bullish zone, while the hourly RSI is above the 50 level, suggesting potential upward momentum in XRP/USD pair.
