In the last 24 hours, XRP has made a little comeback, which might be the start of a longer-term reversal for the asset. This upward momentum is providing traders some hope for a rebound after the last two weeks have seen a period of suppressed price movement. But there are still significant obstacles to overcome.

XRP saw a big decline at the end of September, losing a significant portion of its value in a short amount of time based on the most recent price action. Bearish sentiment was induced by this sell-off, and there has not been enough buying pressure to stop the decline since. As the token attempts to regain traction, the lack of strong support from buyers is concerning. Technically speaking, XRP is attempting to overcome the resistance level at $0.55, which is essential for the asset to keep up its momentum.

A profitable discovery might pave the way for a shift in the direction of the $0.60 range. But XRP might find it difficult to advance past this point in the absence of significant bullish support. If XRP is to avoid further selling pressure and keep the market from being dominated, it must maintain its position above the $0.50 support level.

Price declines are likely to continue if it breaches this level, indicating the possibility of a bearish trend. Although there has been a slight increase, traders should exercise caution because the general mood of the market is still unstable, and XRP does not have the kind of strong buying interest that could support a long-term recovery.