Ripple's recent performance can be described as "willing but unable to do so". It clearly wanted to break through the $0.5850 barrier, but it has never been able to do so. Not only did the price not rise, but it also showed signs of falling, and is currently shaky below $0.5750.
From the data, the price of XRP is now below $0.5750 and the 100-hour moving average, and the situation is not optimistic. There was originally an upward channel at $0.5745 that provided support for the price, but now this channel has also been broken. However, if XRP can break through the resistance of $0.580 in one fell swoop, it may usher in a new wave of increases.
To be honest, XRP is quite stable around $0.5650, and has also tried to rush up, but unfortunately, it failed to break through the $0.5850 barrier, and ended up falling along with Bitcoin and Ethereum.
The price has not only fallen below $0.580 and $0.5750, but also below the 23.6% retracement from the low of $0.5457 to the high of $0.5835. To make matters worse, the rising channel that originally provided support has also been broken.
XRP is now below the important moving average, but fortunately it is still at the 50% retracement from the low to the high. It is not easy to rise. There is resistance near $0.5750, followed by $0.580, and then there is the difficult hurdle of $0.5850. Only by breaking through these resistances can XRP challenge $0.60 or even higher.
In general, XRP is now at a very critical moment. Whether it can turn around depends on whether it can break through the heavy resistance in front of it.
