XRP price vulnerable unless it climbs above $0.50.

Ripple’s token price has started to decline again from $0.5265 against the US Dollar. Unless it climbs back above $0.50, XRP’s price may continue to decrease.

• Ripple’s token price is currently falling below the $0.488 support against the US Dollar.
• The price is now trading below $0.48 and the 100 simple moving average (4 hours).
• A key bearish trend line is forming with resistance near $0.475 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
• In the near term, the pair might continue to decline below the $0.444 support.

Ripple’s Token Price Starts Downside Correction

In the past few days, Ripple’s XRP experienced a downside correction from the $0.5265 resistance against the US Dollar. It dipped below the $0.505 support zone, similar to Bitcoin and Ethereum.

The price gained bearish momentum below the $0.480 support zone. A low was reached near $0.446 and the price is currently recovering from its losses. There was an upward move above the $0.450 and $0.455 resistance levels. XRP surpassed the 23.6% Fibonacci retracement level of the downward move from the $0.5263 swing high to the $0.4460 low.

XRP’s price is now trading below $0.500 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.475 on the 4-hour chart of the XRP/USD pair.

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Initial resistance on the upside is near the $0.475 zone. The first major resistance is near the $0.448 level and the 100 simple moving average (4 hours). It is close to the 50% Fibonacci retracement level of the downward move from the $0.5263 swing high to the $0.4460 low.

Source: XRPUSD on TradingView.com

If the $0.48 resistance level is successfully broken, the price might move towards the $0.505 resistance. Further gains could lead to a test of the $0.525 resistance.

Fresh Decline in XRP?

If Ripple fails to surpass the $0.48 resistance zone, it could experience another decline. The initial support on the downside is near the $0.455 zone.

The next major support level is near $0.445. If there is a downside break and the price closes below the $0.445 level, XRP’s price may extend its losses. In such a case, the price could retest the $0.425 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is currently losing momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.455, $0.445, and $0.425.

Major Resistance Levels – $0.475, $0.480, and $0.500.

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