$XRP Near Crucial Point; Can Bulls Stand?
#XRP struggles below $0.620. To rise soon, the price must hold over $0.5680.
XRP is progressively falling from $0.6620.
The price is below $0.620 and the 100 SMA.
The 4-hour XRP/USD chart shows a big negative trend line with resistance around $0.600.
A closing below $0.5680 might boost negative momentum.
XRP Price Has Many Obstacles
From over $0.650, XRP has steadily declined in recent sessions. Bitcoin and Ethereum fell below $0.620 and $0.605 support levels.
The price tested $0.580. After a low of $0.5805, the price is consolidating losses. On the 4-hour XRP/USD chart, a significant negative trend line with resistance around $0.600 is formed.
Ripple's token price is below $0.620 and the 4-hour SMA. The trend line and $0.600 zone are immediate upward resistance. It is near the 23.6% Fib retracement level of the falling wave from $0.6625 swing high to $0.5805 low.
Around $0.620 is the next resistance. It is around the 50% Fib retracement of the negative wave from $0.6625 swing high to $0.5805 low. Close over $0.6250 barrier might start a significant surge. Around $0.6620 is the next resistance.
Bulls may surge toward $0.680 if they stay over $0.6620. More advances might push the price toward $0.700.
More Losses?
XRP may fall again if it fails to break $0.600. Initial downward support is approaching $0.580.
The next significant support is $0.5680. If the price breaks down and closes below $0.5680, it may accelerate downward. It might retest the $0.5250 support zone.
Tech Indicators
The 4-hour MACD for #XRP/USDT is becoming negative.
Four-hour RSI (Relative Strength Index): XRP/USD is below 50.
Major Support Levels: $0.580, $0.5680, $0.5250.
Major resistance levels: $0.600, $0.6250, $0.6620.
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