The XRP price has experienced a decline below the $0.600 level, performing worse than Bitcoin and Ethereum. It even fell below the $0.5550 support zone and reached a low of $0.5231. Currently, the price is consolidating and trading above $0.5550 and the 100-hourly Simple Moving Average. However, it might struggle to surpass the $0.5565 resistance level, with the first major resistance being at $0.5950. If the price fails to clear this resistance, it could continue to move downwards, with the initial support at $0.530 and the major support at $0.5240. The downside break and close below $0.5240 may result in further decline towards the $0.5050 support level. Technical indicators suggest that the market is currently in a bearish zone.



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