XRP price is attempting to recover above the $0.5500 level, but it faces resistance at $0.5625 and $0.5720. A key bullish trend line with support at $0.5520 is forming on the hourly chart.
XRP recently started a recovery from $0.5330, managing to clear minor resistance levels. However, it is still trading below $0.5650 and the 100-hourly Simple Moving Average, with active bears.
To continue its upward trend, XRP needs to break past the significant resistance levels of $0.5650 and $0.5720. Otherwise, it could face another decline, with initial support at $0.5525 and major support at $0.5500.
Key technical indicators, including the MACD and RSI, suggest weakening bullish momentum. Major support levels are $0.5525 and $0.5400, while major resistance levels are $0.5625 and $0.5720.
