Ethereum

Bitcoin

Resistance

XRP price avoided a major downside break as ETH’s surges. The price is back above $0.5220 and eyeing a key upside break in the near term. 
<ul> 
 <li>XRP started a decent increase above the $0.5150 resistance zone.</li> 
 <li>The price is now trading above $0.5250 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a key bearish trend line with resistance at $0.520 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could correct gains, but the bulls might remain active near the $0.5180 zone.</li> 
</ul> 
<h2 id="xrp-price-recovers">XRP Price Recovers</h2> 
After a drop toward the $0.5065 support, XRP price started a recovery wave. Recently, <a href="https://www.newsbtc.com/analysis/eth/ethereum-soars-20-eth-etf-rumors/" target="_blank" rel="noopener ">Ethereum</a> rallied over 20% and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-soars-70k/" target="_blank" rel="noopener ">Bitcoin</a> climbed above $70,000. It sparked decent bullish moves in XRP. 
The price climbed above the $0.5150 and $0.520 resistance level. There was a break above a key bearish trend line with resistance at $0.520 on the hourly chart of the XRP/USD pair. The pair even broke the $0.5320 resistance and traded as high as $0.5386. 
The price is now correcting gains and might test the 23.6% Fib retracement level of the upward wave from the $0.5064 swing low to the $0.5386 high. 
It is now trading above $0.5250 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5380 level. The first key resistance is near $0.5420. A close above the $0.5420 resistance zone could send the price higher. The next key resistance is near $0.5550. <a href="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_ae216d.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="size-full wp-image-609037" src="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_ae216d.png?resize=1024%2C449" alt="XRP Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_ae216d.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_ae216d.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_ae216d.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_ae216d.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_ae216d.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_ae216d.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_ae216d.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
If the bulls push the price above the $0.5550 resistance level, there could be a fresh move toward the $0.5650 resistance. Any more gains might send the price toward the $0.5720 resistance. 
<h2 id="another-decline">Another Decline?</h2> 
If XRP fails to clear the $0.5380 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.5310 level. The next major support is at $0.5250. 
The main support is now near $0.5220 or the 50% Fib retracement level of the upward wave from the $0.5064 swing low to the $0.5386 high. If there is a downside break and a close below the $0.5220 level, the price might accelerate lower. In the stated case, the price could drop and test the $0.5065 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. 
Major Support Levels – $0.5310 and $0.5220. 
Major Resistance Levels – $0.5380 and $0.5420.

XRP Price Rises Within Range: Poised for a Breakout?

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