Ethereum

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/xrp-faces-increased-losses-and-technical-challenges/" data-wpel-link="internal">XRP Faces Increased Losses and Technical Challenges</a><br></p>
<p style="text-align: justify">The <a href="https://en.coin-turk.com/crypto-ads-at-the-super-bowl-a-shift-in-strategy/" data-wpel-link="internal">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> has been quite volatile lately. At the center of this fluctuation is XRP, which has recently entered a downtrend starting from the $0.5050 resistance area. Currently, the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> is trading below the critical support of $0.4865, and closing below this support level could lead to further declines.</p> 
<h2 style="text-align: justify" id="xrp-expands-its-losses">XRP Expands Its Losses</h2> 
<p style="text-align: justify">XRP’s losses have widened, now trading below the $0.500 support. A significant downtrend line has formed at the $0.4980 resistance for XRP. This situation indicates that the pair could retreat further towards a support at $0.4550 in the near term.</p> 
<p style="text-align: justify">Recently, although XRP’s price attempted a recovery wave above the $0.5050 level, bears effectively dominated the market. Along with other cryptocurrencies like Ethereum and Bitcoin, Ripple (XRP) price experienced a sharp decline below the $0.500 support.</p> 
<p style="text-align: justify">A movement below the $0.4920 and $0.4880 levels occurred, and the downtrend accelerated. The lowest level dropped to $0.4867, and currently, the price is trying to balance these losses.</p> 
<h2 style="text-align: justify" id="should-these-resistance-levels-be-watched-for-price">Should These Resistance Levels Be Watched for Price?</h2> 
<p style="text-align: justify">In the upcoming period, the most significant resistance the price will face is around $0.500. A close above this level could initiate a strong upward trend. However, there are still some challenges ahead for the price, especially the $0.5085 resistance level.</p> 
<p style="text-align: justify">If bulls overcome this resistance level, a rally towards the $0.5250 resistance could be possible. However, for further gains, the price needs to advance towards the $0.550 resistance.</p> 
<h2 style="text-align: justify" id="what-does-technical-analysis-say-about-xrp-s-condition-and-future">What Does Technical Analysis Say About XRP’s Condition and Future?</h2> 
<p style="text-align: justify">Currently, if XRP cannot surpass the $0.50 resistance area, a new downtrend may begin. Technical analysis shows that the first support level in a downward move is around $0.4865. If this support level is broken, the next main support point is at $0.4780.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-350702 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ripple.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">However, if a close below this level occurs, it is indicated that the price could fall further. In this scenario, it seems likely that XRP will retest the $0.450 support region. Looking at the technical indicators, the hourly MACD indicator for the XRP/USD pair is gaining momentum in a downward trend. Similarly, the hourly RSI (Relative Strength Index) is also trending below the 50 level, indicating that selling pressure may continue.</p> 
<p style="text-align: justify">Key support levels for XRP are identified at $0.4865 and $0.4780, while resistance levels are at $0.500 and $0.5085. Therefore, XRP’s near-term performance appears to depend on whether these support and resistance levels are breached.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/xrp-faces-increased-losses-and-technical-challenges/" data-wpel-link="internal">XRP Faces Increased Losses and Technical Challenges</a></h5>

XRP Faces Increased Losses and Technical Challenges

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