Ethereum

Resistance

XRP price failed to recover above the $0.50 resistance zone. The price is again moving lower and there is risk of more downsides below $0.4840. 
<ul> 
 <li>XRP is still showing bearish signs and struggled near $0.50.</li> 
 <li>The price is now trading below $0.4920 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key contracting triangle forming with resistance at $0.4950 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could recover, but the bears might be active near the $0.4950 resistance.</li> 
</ul> 
<h2 id="xrp-price-dips">XRP Price Dips</h2> 
XRP price failed to recover above the $0.50 resistance like <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-slope-3550/" target="_blank" rel="noopener ">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rejects-70k-2/" target="_blank" rel="noopener ">Bitcoin</a>. The price peaked near the $0.4981 level and recently started another decline. 
There was a move below the $0.4980 and $0.4950 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $0.4701 swing low to the $0.4981 high. It is now trading below $0.4920 and the 100-hourly Simple Moving Average. 
The bulls are now active near the $0.4840 support and the 50% Fib retracement level of the upward move from the $0.4701 swing low to the $0.4981 high. 
On the upside, the price is facing resistance near the $0.4920 level. The first key resistance is near $0.4950. There is also a key contracting triangle forming with resistance at $0.4950 on the hourly chart of the XRP/USD pair. The next major resistance is near the $0.50 level. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a7f2bc.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-624349 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a7f2bc.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a7f2bc.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a7f2bc.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a7f2bc.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a7f2bc.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a7f2bc.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a7f2bc.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a7f2bc.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A close above the $0.50 resistance zone could send the price higher. The next key resistance is near $0.5050. If there is a close above the $0.5050 resistance level, there could be a steady increase toward the $0.5250 resistance. Any more gains might send the price toward the $0.5320 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.4950 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4840 level. 
The next major support is at $0.4765. If there is a downside break and a close below the $0.4765 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.4550 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $0.4840 and $0.4765. 
Major Resistance Levels – $0.4950 and $0.5000.

XRP Price on Edge: Potential Slide Resumption Looms

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