It is difficult for XRP to overcome the sticky barrier at $0.50
While Ripple was seeking to rebound from its loss on Monday, it lost roughly two percent of its value over the course of the previous week. During the last week, the alternative cryptocurrency has been unable to break through the resistance level at $0.50, and it has failed to close above this level on practically every single day.
According to the daily time frame, XRP is now trading at $0.4905, which brings it closer to hitting the $0.50 resistance level. The chart below for XRP/USDT displays red histogram bars that are located below the neutral line on the Moving Average Convergence Divergence (MACD) indicator. These bars provide support for the current decrease in Ripple's coin.
Ripple's price movement seems to be characterized by an underlying negative momentum, as shown by the MACD. The low of $0.4665 that occurred on April 19 might serve as a support level for XRP if it continues to decline.
It is possible that the bearish thesis will be disproved if Ripple observes a daily candlestick close that is higher than $0.50. If this scenario plays out, the next point of resistance is the high point of $0.5326 on June 5th.
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