XRP is showing signs of recovery as it attempts to break above the $0.5050 and $0.5200 resistance levels. The price has already cleared the $0.5150 resistance and is consolidating above the 23.6% Fib retracement level.
It is also trading above the 100-hourly Simple Moving Average. If the price manages to close above the $0.5200 resistance, it could experience further bullish momentum and potentially rally towards the $0.5350 and $0.5500 resistance levels.
However, if it fails to break the resistance and falls below the $0.5120 support, it may decline further towards the $0.5050 support zone.
The technical indicators show the MACD losing pace in the bullish zone, while the RSI is above the 50 level. The major support levels are at $0.5120 and $0.5050, while the major resistance levels are at $0.5200 and $0.5220.
Source: NEWSBTC
