XRP Price Analysis: XRP Turns At Risk Below $0.50 | Live Bitcoin News

• XRP price started a fresh decline below the $0.520 zone against the US dollar.
• The price is now trading below $0.50 and the 55 simple moving average (4 hours).
• There is a key bearish trend line forming with resistance near $0.492 on the 4-hour chart of the XRP/USD pair (data source from Bittrex).
• The pair could extend losses if it breaks the $0.472 support zone.

XRP price is struggling below $0.50 against the US Dollar, like Bitcoin. The price could decline further if it settles below the $0.472 support in the near term.

Ripple Price Analysis

In the past few days, Ripple’s XRP price started a fresh decline from well above $0.520 against the US Dollar. The XRP/USD pair gained bearish momentum below the $0.512 level.

The bears were able to push the price below the $0.500 support. It even traded below the 55 simple moving average (4 hours) and spiked below the $0.475 support. A low is formed near $0.4730 and the price is now attempting a recovery wave.

There was a move above the $0.484 level. XRP is now trading below $0.50 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near $0.492, and the 23.6% Fib retracement level of the downward move from the $0.5510 swing high to the $0.4730 low.

There is also a key bearish trend line forming with resistance near $0.492 on the 4-hour chart of the XRP/USD pair. The next major resistance is near the $0.512 level. It is near the 50% Fib retracement level of the downward move from the $0.5510 swing high to the $0.4730 low.

A clear move above $0.512 might start a fresh increase. In the stated case, the price could even surpass the $0.520 resistance. Any more gains might send the price toward the $0.550 resistance.

Initial support on the downside is near $0.4780. The next major support is near the $0.4720 level. Any more losses could lead the price toward the $0.450 level, below which the price might even test $0.4320.

Looking at the chart, XRP price is now trading below the $0.50 zone and the 55 simple moving average (4 hours). Overall, the price could extend losses if it breaks the $0.4720 support zone.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now losing momentum in the bearish zone.

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

Key Support Levels – $0.478, $0.472, and $0.450.

Key Resistance Levels – $0.492 and $0.512.

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• Source: https://www.livebitcoinnews.com/xrp-price-analysis-xrp-turns-at-risk-below-0-50/