XRP price is moving downwards, trading below the $0.5500 level and showing bearish signals. A drop below the $0.5200 support zone might strengthen the bears' hold.
The price has decreased below key levels like $0.5550 and $0.5500, testing a low of $0.5290. Currently, XRP is trading below $0.5450 and below the 100-hourly Simple Moving Average.
A connecting bearish trend line is forming with resistance at $0.5365, signaling potential further drops if the price doesn't rise above this threshold.
If the price manages a clear move above $0.5520, it may approach the $0.5600 or $0.5650 resistance. However, if it fails to clear the $0.5365 and falls, the primary supports to watch are $0.5280 and $0.5220.
Technical indicators show the hourly MACD gaining bearish momentum, while the RSI is below the 50 level, further indicating potential declines.
