Ripple (XRP)
XRP could not hold above 54 cents, and the price fell, closing the week with a 5% loss. If buyers don’t show up soon, this cryptocurrency may go to the next key support level at 48 cents. The previous level at 54 cents is now acting as resistance.
The biggest problem for XRP is the lack of volume, which has been declining since its local high in March 2024. This made any attempt at a breakout weak. Sellers were also quick to capitalize on this weakness and take over the price action every time buyers pushed XRP above 60 cents.
Looking ahead, the bias is somewhat bearish after this recent breakdown. If buyers manage to stop this downtrend at 48 cents, then XRP could return on an uptrend to face the resistance at 54 cents.
