XRP Price Facing Another Drop: Understanding The Key Drivers

Jun 26, 2024 04:00 am Cryptocurrency 29

XRP price started a recovery wave from the $0.4620 support. The price is now struggling to clear $0.4780 and might restart its decline.

XRP price is attempting a recovery wave from the $0.4620 support zone.

The price is now trading below $0.4800 and the 100-hourly Simple Moving Average.

There is a key bearish trend line forming with resistance at $0.4770 on the hourly chart of the XRP/USD pair (data source from Kraken).

The pair might face rejections near $0.4780 and $0.480.

XRP Price Faces Resistance

XRP price extended losses below the $0.480 level like Bitcoin and Ethereum. The price even spiked below $0.4650 and tested the $0.4620 zone. A low was formed at $0.4619 and the price recently started a recovery wave.

There was an upward move above the $0.4700 and $0.4720 resistance levels. The price even surpassed the 50% Fib retracement level of the ..

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