$XRP Price Danger Zone: Key Support Levels to Watch!

Technical Indicators:

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – USD 0.4740 and USD 0.4700.

Major Resistance Levels – USD 0.4850 and USD 0.4920.

Analysis:

XRP price failed to stay above the USD 0.4840 support zone. The price declined and tested the USD 0.4750 support zone, and is now at risk of more losses.

The price declined below the USD 0.480 level. A low was formed at USD 0.4746 and the price is now consolidating losses. It is testing the 23.6% Fib retracement level of the recent decline from the USD 0.4981 swing high to the USD 0.4746 low. The price is now trading below USD 0.4920 and the 100-hourly Simple Moving Average.

If the bulls protect the USD 0.4740 support, there might be an upside correction. On the upside, the price is facing resistance near the USD 0.4820 level. The first key resistance is near USD 0.4850 or the 50% Fib retracement level of the recent decline from the USD 0.4981 swing high to the USD 0.4746 low.

A close above the USD 0.4950 resistance zone could send the price higher. The next key resistance is near USD 0.5050. If there is a close above the USD 0.5050 resistance level, there could be a steady increase toward the USD 0.5250 resistance. Any more gains might send the price toward the USD 0.5320 resistance.