XRP price has managed to stay above the $0.5000 level and is making attempts to rebound. However, for the price to see a significant increase, it needs to clear the resistance levels at $0.5320 and $0.5480.
Currently, XRP is trading below $0.5320 and the 100-hourly Simple Moving Average. The price formed a low at $0.5021 and is now trying to recover. It broke a key bearish trend line with resistance at $0.5280 on the hourly chart of the XRP/USD pair.
While the price managed to reach above the $0.520 level, bears remain active around $0.5320 and $0.5350. To see further gains, XRP needs to surpass the $0.5480 level. This could push the price towards the $0.5550 and potentially to $0.5620 or higher in the near term.
In case XRP fails to break through the resistance, it might witness another decline. Initial support is found at $0.5220, with significant support at $0.5200. A break below this might lead the price down to $0.5120 and $0.5020.
Technical indicators suggest mixed signals, with the hourly MACD losing pace in the bearish zone and the RSI above the 50 level.
