XRP Price Near Crucial Juncture, Can Bulls Take A Stand?

Apr 3, 2024 06:00 am Cryptocurrency 39

XRP price is struggling below $0.620. The price must stay above the $0.5680 support to attempt a fresh increase in the near term.

XRP is slowly moving lower from the $0.6620 resistance zone.

The price is now trading below $0.620 and the 100 simple moving average (4 hours).

There is a major bearish trend line forming with resistance near $0.600 on the 4-hour chart of the XRP/USD pair (data source from Kraken).

The pair could gain bearish momentum if there is a close below the $0.5680 support.

XRP Price Faces Many Hurdles

In the past few sessions, XRP price saw a steady decline from well above the $0.650 level. There was a drop below the $0.620 and $0.605 support levels, like Bitcoin and Ethereum.

The price tested the $0.580 support. A low was formed near $0.5805 and the price is now consolidating losses. ..

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