According to CryptoPotato, XRP has been unable to break above the 54 cents resistance level, leading to a bearish takeover of the price action. The key support and resistance levels are currently at $0.43 and $0.54 respectively. The rejection at the 54 cents resistance has resulted in a sustained correction that has pushed XRP closer to its current support at 43 cents. There seems to be a lack of buyer interest at the moment.
The only hope for XRP is to find strong support around 43 cents and attract buyers at this level. In the past, whenever the price tested this level, it spiked higher, generating interest in the cryptocurrency. However, buyers have been unable to break the resistance at 53 cents despite multiple attempts. This has encouraged sellers, leading to a bearish cross on the monthly timeframe for XRP.
This bearish cross represents a significant shift in the price action. If the month of June closes in this manner, XRP may be in for a long correction. This suggests that the downtrend for XRP is continuing, and the cryptocurrency is struggling to find support and attract buyers.