XRP Struggles to Break the $0.50 Barrier 📉🔍
It's challenging for XRP to surpass the sticky barrier at $0.50. Despite Ripple's attempts to rebound from its Monday losses, the cryptocurrency lost about two percent of its value over the past week. Throughout this period, XRP has consistently failed to break through the resistance level at $0.50, unable to close above it almost every day.
Currently, XRP is trading at $0.4905, inching closer to the $0.50 resistance level. The XRP/USDT chart shows red histogram bars below the neutral line on the Moving Average Convergence Divergence (MACD) indicator, supporting the ongoing decline in Ripple's coin.
Ripple's price action appears to be driven by underlying negative momentum, as indicated by the MACD. If XRP continues to drop, the low of $0.4665 on April 19 could serve as a support level.
The bearish outlook might be invalidated if Ripple manages to close above $0.50 on the daily candlestick chart. If this happens, the next resistance point is the high of $0.5326 recorded on June 5th.$XRP
