XRP Price Struggles: Bears Take Control, Key Challenges Ahead
XRP price is facing significant challenges, struggling to recover above $0.450 and dropping below the $0.4250 support zone. The price is consolidating losses and might face resistance at $0.420 and $0.4350. A bearish trend line is forming on the hourly chart, indicating potential further declines. The next major support levels are at $0.4050 and $0.400.
Technical indicators show a bearish MACD and a relative strength index (RSI) below 50. The price might continue to decline towards $0.3750 if it breaks below $0.40.
On the upside, the price needs to clear the $0.420 resistance zone to aim for $0.4380 and $0.450. However, the current sentiment suggests further losses may be ahead.