Ripple (XRP) price has been struggling to maintain it's stability in the past week. It failed to an upside break above the $0.5400 zone against the US Dollar. After that, the bears took control and pushed the price below the $0.480 support zone. A key bullish trend line was also broken with support near $0.5100 on the 4-hour chart of the XRP/USD pair. Then, the price tested the $0.4400 support zone and formed a low at $0.4403. Now, the price is trying to recover above the $0.500 level and the 55 simple moving average (4 hours).
On the upside, the initial resistance is near the $0.4990 and $0.5000. Above these levels, the price may start a fresh increase which could lead to surpassing the $0.5200 resistance. On the downside, the initial support is near the $0.4500, $0.4400, and $0.4200. Below these levels, there is a chance for the price to test the $0.4000 zone.
For now, the 4 hours MACD for XRP/USD is losing momentum in the bearish zone. On the other hand, the 4 hours RSI is below the 50 level. If the price continues to move near the $0.500 zone, it may create selling pressure in the near term.
Sophie Young
- 2023-04-24
Ripple's Struggles in the Market
The Ripple (XRP) price has been struggling to maintain stability in the past week, failing to break above the price of $0.5400, and plunging below the support zone of $0.4800.
![CandleFocus Ripple-XRP-USD-0.5400-0.4800-Bearish-SupportZone-Bullish](https://images.candlefocus.com/Ripples-Struggles-in-the-Market.jpg)