{"id":610743,"date":"2024-05-31T02:08:53","date_gmt":"2024-05-31T02:08:53","guid":{"rendered":"https:\/\/ktsl888.com\/?p=610743"},"modified":"2024-06-11T07:46:24","modified_gmt":"2024-06-11T07:46:24","slug":"xrp-price-grinds-lower-0-5120","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple\/xrp-price-grinds-lower-0-5120\/","title":{"rendered":"XRP Price Grinds Lower: Searching for Support Amid Downtrend"},"content":{"rendered":"<p><em>XRP price extended losses below the $0.5220 support zone. It tested the $0.5120 support and now attempting another recovery wave toward $0.550.<\/em><\/p>\n<ul>\n<li>XRP is struggling to start a fresh increase above the $0.5320 resistance zone.<\/li>\n<li>The price is now trading below $0.530 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $0.5230 on the hourly chart of the XRP\/USD pair (data source from Kraken).<\/li>\n<li>The pair could continue to move down if the price stays below $0.5320.<\/li>\n<\/ul>\n<h2>XRP Price Dips Further<\/h2>\n<p>XRP price remained in a short-term bearish zone like <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoins-upside-fading-70k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and Ethereum. The bears were able to push the price below the key support at $0.5220. Finally, the price tested the $0.5120 support zone.<\/p>\n<p>A low was formed at $0.5126 and the price is now attempting a fresh <a href=\"https:\/\/ktsl888.com\/analysis\/xrp\/xrp-price-steadies-0-5220\/\" target=\"_blank\" rel=\"noopener \">recovery wave<\/a>. There was a move above the $0.5165 level. The price climbed above the 23.6% Fib retracement level of the downward wave from the $0.5406 swing high to the $0.5126 low.<\/p>\n<p>However, the price is still trading below $0.530 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.5220 level. There is also a major bearish trend line forming with resistance near $0.5230 on the hourly chart of the XRP\/USD pair.<\/p>\n<p>The first key resistance is near $0.5265 or the 50% Fib retracement level of the downward wave from the $0.5406 swing high to the $0.5126 low. A close above the $0.5265 resistance zone could send the price higher. The next key resistance is near $0.5320.<\/p>\n<figure id=\"attachment_610744\" aria-describedby=\"caption-attachment-610744\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP_Price_ae12c9.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-610744 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP_Price_ae12c9.png?resize=1024%2C449\" alt=\"XRP Price\" width=\"1024\" height=\"449\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP_Price_ae12c9.png?w=1950 1950w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP_Price_ae12c9.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP_Price_ae12c9.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP_Price_ae12c9.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP_Price_ae12c9.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP_Price_ae12c9.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/XRP_Price_ae12c9.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-610744\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">XRPUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>If there is a close above the $0.5320 resistance level, there could be a steady increase toward the $0.5450 resistance. Any more gains might send the price toward the $0.5650 resistance.<\/p>\n<h2>More Downsides?<\/h2>\n<p>If XRP fails to clear the $0.5220 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5150 level.<\/p>\n<p>The next major support is at $0.5120. If there is a downside break and a close below the $0.5120 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.50 support in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for XRP\/USD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.5120 and $0.500.<\/p>\n<p>Major Resistance Levels \u2013 $0.5220 and $0.5320.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP price extended losses below the $0.5220 support zone. It tested the $0.5120 support and now attempting another recovery wave toward $0.550. XRP is struggling to start a fresh increase above the $0.5320 resistance zone. The price is now trading below $0.530 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $0.5230 on the hourly chart of the XRP\/USD pair (data source from Kraken). The pair could continue to move down if the price stays below $0.5320. XRP Price Dips Further XRP price remained in a short-term bearish zone like Bitcoin and Ethereum. The bears were able to push the price below the key support at $0.5220. Finally, the price tested the $0.5120 support zone. A low was formed at $0.5126 and the price is now attempting a fresh recovery wave. There was a move above the $0.5165 level. The price climbed above the 23.6% Fib retracement level of the downward wave from the $0.5406 swing high to the $0.5126 low. However, the price is still trading below $0.530 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.5220 level. There is also a major bearish trend line forming with resistance near $0.5230 on the hourly chart of the XRP\/USD pair. The first key resistance is near $0.5265 or the 50% Fib retracement level of the downward wave from the $0.5406 swing high to the $0.5126 low. A close above the $0.5265 resistance zone could send the price higher. The next key resistance is near $0.5320. If there is a close above the $0.5320 resistance level, there could be a steady increase toward the $0.5450 resistance. Any more gains might send the price toward the $0.5650 resistance. More Downsides? If XRP fails to clear the $0.5220 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5150 level. The next major support is at $0.5120. If there is a downside break and a close below the $0.5120 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.50 support in the near term. Technical Indicators Hourly MACD \u2013 The MACD for XRP\/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level. Major Support Levels \u2013 $0.5120 and $0.500. Major Resistance Levels \u2013 $0.5220 and $0.5320.<\/p>\n","protected":false},"author":67,"featured_media":610745,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,74937,10972,78763],"class_list":["post-610743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-xrpbtc","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n<title>XRP Price Grinds Lower: Searching for Support Amid Downtrend<\/title>\n<meta name=\"description\" content=\"XRP price extended losses below the $0.5220 support zone. 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