The XRP price is currently holding support at $0.485 against the US Dollar. To initiate a recovery, the price needs to surpass resistance levels at $0.510 and $0.525. However, it is struggling to recover above $0.510 and $0.525 and is trading below $0.520 and the 100 simple moving average (4 hours).
There is a significant bearish trend line with resistance near $0.5020 on the 4-hour chart. If the price remains below $0.525, it could potentially experience another decline. It is crucial to monitor whether XRP can overcome these obstacles and successfully surpass the $0.525 resistance.
On the upside, the key resistance levels are $0.518, $0.520, and $0.550. Conversely, if the price breaks below the $0.485 level, it could extend losses and retest the $0.450 support zone. The MACD indicator is showing bearish momentum, and the RSI is below the 50 level.
The major support levels are $0.490, $0.485, and $0.450, while the major resistance levels are $0.518, $0.520, and $0.550.
Source: NEWSBTC
