XRP Price Dips To Support, Can It Bounce Back And Restart Increase?

Jun 7, 2024 06:01 am Cryptocurrency 136

XRP price started a fresh decline from the $0.5320 resistance zone. It is now testing the $0.5180 support and might even test the $0.5120 support zone.

XRP failed near $0.5320 and started a downside correction.

The price is now trading below $0.5250 and the 100-hourly Simple Moving Average.

There is a connecting bearish trend line forming with resistance near $0.5250 on the hourly chart of the XRP/USD pair (data source from Kraken).

The pair could dip further if it stays below the $0.5250 resistance zone.

XRP Price Dips Again

XRP price extended its increase above the $0.5265 level like Bitcoin and Ethereum. The price even spiked above the $0.5300 level before the bears appeared.

A high was formed at $0.5325 and the price started a downside correction. There was a move below the $0.5250 level. It traded below the 50% Fib retracement ..

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