Currently, Ripple (XRP) price is trading below the $0.465 resistant threshold against the US Dollar. The bearish trend has extended below the $0.4650 support and close to a critical support at $0.425. On the upside, the price faces resistance near the $0.4560 level and the bearish trendline.
The 4-hour chart of the XRP/USD pair shows that the price is struggling around a major trendline resistance at $0.456. A clear move above the trendline resistance could start a new bullish wave. The next major resistance is near the $0.4650 level. If there is a successful break above the mentioned $0.4650 resistance, the price could climb higher in the near term. It could even rallies above the $0.500 resistance.
On the downside, initial support is near the $0.432 level, below which the price is likely to test $0.425. The next key support is near $0.400 and the 55 simple moving average (4 hours). A bearish break and close below the $0.400 two-month low could start a bearish wave in the near term.
The 4-hour MACD is now gaining momentum in the bearish zone and the 4-hours RSI is below the 50 level. To start a fresh upward move, the XRP/USD pair must climb above the $0.4560 and $0.4650 resistance levels.
Alina Sanders
- 2023-05-08
Ripple (XRP) at Critical Support
Ripple (XRP) price struggled to break above the key trendline resistance of $0.456 and is now close to a critical support of $0.425. If a successful break above $0.4650 resistance is seen, the price rally could extend above the $0.500 level.
![CandleFocus Ripple-XRP-Price-USDollar-Support-Resistence](https://images.candlefocus.com/Ripple-(XRP)-at-Critical-Support.jpg)