Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»Seeking support in a downward trend
EXCHANGE NEWS

Seeking support in a downward trend

By Crypto FlexsJune 1, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Seeking support in a downward trend
Share
Facebook Twitter LinkedIn Pinterest Email

XRP price extended losses below the $0.5220 support area. It tested the $0.5120 support and is now attempting another recovery wave towards $0.550.

  • XRP is struggling to start a new rally above the $0.5320 resistance zone.
  • The price is currently trading below $0.530 and the 100-hour simple moving average.
  • On the hourly chart of the XRP/USD pair, there is a major bearish trendline forming with resistance near $0.5230 (data source from Kraken).
  • If the price stays below $0.5320, the pair may continue to decline.

XRP price falls further

XRP price remained in the same short-term bearish zone as Bitcoin and Ethereum. The decline could push the price below the key support at $0.5220. Finally, the price tested the $0.5120 support area.

The low was formed at $0.5126 and the price is now attempting a new recovery. There was a move above the $0.5165 level. The price crossed the 23.6% Fib retracement level of the bearish wave from the $0.5406 swing high to the $0.5126 low.

However, the price is still trading below $0.530 and the 100-hour simple moving average. On the other hand, the price is finding resistance near $0.5220. Additionally, on the hourly chart of the XRP/USD pair, there is a major bearish trendline forming with resistance near $0.5230.

The first major resistance is near $0.5265 or the 50% Fib retracement level of the bearish wave from the $0.5406 swing high to the $0.5126 low. A break above the $0.5265 resistance zone could push the price higher. The next major resistance is near $0.5320.

Source: XRPUSD on TradingView.com

If the price closes above the $0.5320 resistance line, there could be a steady rise towards the $0.5450 resistance line. Any more profits could push the price towards the $0.5650 resistance.

Are there any more drawbacks?

If XRP fails to clear the $0.5220 resistance area, it may continue to decline. Initial support for the downside is near the $0.5150 level.

The next major support is at $0.5120. A downward breakout and a close below the $0.5120 level could push the price lower. If indicated, the price may fall and retest the $0.50 support in the near term.

technical indicators

Hourly MACD – The MACD for XRP/USD is now losing speed in bearish territory.

Hourly Relative Strength Index (RSI) – The RSI for XRP/USD is now below the 50 level.

Key support levels – $0.5120 and $0.500.

Key resistance levels – $0.5220 and $0.5320.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Hyperliquid’s USDH Stablecoin is broadcast live at an early transaction volume of $ 2M or more.

September 24, 2025

The fullback of $ 16 of the chain link (link) can set a parabolic price rally.

September 18, 2025

Cardano (ADA) Signal Recovery -Is there a strong rise?

September 15, 2025
Add A Comment

Comments are closed.

Recent Posts

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

The method of transforming ASTER WHALES into panic is as follows.

September 25, 2025

Hyperliquid launches USDH Stablecoin issued by Native Markets

September 25, 2025

Hyperliquid’s USDH Stablecoin is broadcast live at an early transaction volume of $ 2M or more.

September 24, 2025

One All-Powerful Asset Across Two Ecosystems

September 24, 2025

BTCC Exchange Partners With NBA All-Star Jaren Jackson Jr. To Inspire Smarter Moves In Sports And Crypto

September 24, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025
Most Popular

Worldcoin flashes buy signal to wipe out losses.

June 30, 2024

Technical signals point to a possible surge to $2,600.

January 3, 2024

BYDFi Launches Innovative Perpetual Contract Copy Trading Feature, Welcomes Global Traders to Join

January 13, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.