XRP Price Prediction – Breaking This Confluence Resistance Could Spark Recovery

Sep 7, 2023 06:00 am Cryptocurrency 145

Ripple’s token price is holding the $0.485 support against the US Dollar. XRP price could start a recovery wave if it clears $0.510 and $0.525.

Ripple’s token price is struggling to recover above $0.510 and $0.525 against the US dollar.

The price is now trading below $0.520 and the 100 simple moving average (4 hours).

There is a major bearish trend line in place with resistance near $0.5020 on the 4-hour chart of the XRP/USD pair (data source from Kraken).

The pair might start another decline if it stays below $0.525 in the short term.

Ripple’s Token Price Eyes Recovery

In the past few days, Ripple’s XRP saw a steady decline from the $0.550 resistance against the US Dollar. The price declined below the $0.532 and $0.525 support levels.

It even spiked below the $0.500 support. A low is formed near $0.4863 and the price is now attempting a recovery wave, like Bitcoin and price prediction breaking confluence resistance could spark recovery