XRP price is consolidating above the $0.5785 support level. To start a fresh increase, it must settle above $0.5920 and $0.600. The price is currently below the $0.600 resistance and the 100-hourly Simple Moving Average.
A major bearish trend line is forming with resistance at $0.5850 on the hourly chart. Clearing the $0.5920 and $0.600 resistance levels could help the pair gain bullish momentum.
If XRP fails to clear the resistance zone, it might decline further. Initial support is near $0.5825, and a break below $0.5780 could lead to a decline toward $0.5650 support.
Technical indicators show the MACD gaining pace in the bearish zone, while RSI is below the 50 level. Major support levels are $0.5825 and $0.5780, with resistance at $0.5920 and $0.6000.
