XRP's price is holding firm at the $0.500 support zone, showing signs of consolidation, aiming for a potential increase. Despite Bitcoin trimming its gains, XRP is positioned for a possible rise above the $0.5100 mark, though it currently trades below the 100-hourly Simple Moving Average.
The recent formation of a connecting bearish trend line with resistance at $0.5090 indicates that XRP could gain bullish momentum if it settles above the $0.5135 resistance zone. However, should it fail to clear the $0.5090 mark, a potential decline could occur, with initial support levels at $0.500 and $0.4950.
XRP's earlier price drop below the $0.500 support was minimized compared to Bitcoin and Ethereum, suggesting relative strength. Technical indicators reveal mixed signals; the MACD is gaining bullish momentum, while the RSI hovers around the neutral 50 level. A break above $0.5135 could propel XRP toward the $0.5200 or even $0.5265 resistances.
