{"id":540,"date":"2024-10-17T05:00:16","date_gmt":"2024-10-17T05:00:16","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/xrp-price-cant-break-0-5550-is-a-turnaround-coming\/"},"modified":"2024-10-17T05:00:16","modified_gmt":"2024-10-17T05:00:16","slug":"xrp-price-cant-break-0-5550-is-a-turnaround-coming","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/xrp-price-cant-break-0-5550-is-a-turnaround-coming\/","title":{"rendered":"XRP Price Can\u2019t Break $0.5550: Is a Turnaround Coming?"},"content":{"rendered":"<p><em>XRP price is still struggling to clear the $0.5550 zone. The price must settle above the $0.5550 resistance to start a steady increase in the near term.<\/em><\/p>\n<ul>\n<li>XRP price is consolidating above the $0.5320 zone.<\/li>\n<li>The price is now trading above $0.5400 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bullish trend line forming with support at $0.5435 on the hourly chart of the XRP\/USD pair (data source from Kraken).<\/li>\n<li>The pair could gain bullish momentum if it clears the $0.550 and $0.5550 resistance levels.<\/li>\n<\/ul>\n<h2>XRP Price Holds Support<\/h2>\n<p>XRP price made another attempt to clear the $0.5550 resistance zone. However, the bears remained active below $0.5550 and there was no upside break. The price corrected some gains like Bitcoin and Ethereum.<\/p>\n<p>There was a move below the $0.5500 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.5377 swing low to the $0.5537 high. However, the bulls are active and protecting more losses below $0.540.<\/p>\n<p>The price is now trading above $0.540 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $0.5435 on the hourly chart of the XRP\/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $0.5377 swing low to the $0.5537 high.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-648422 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/XRP_Price_6feeb0.png?resize=1024%2C478\" alt=\"XRP Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>On the upside, the price might face resistance near the $0.5500 level. The first major resistance is near the $0.5520 level. The next key resistance could be $0.5550. A clear move above the $0.5550 resistance might send the price toward the $0.5650 resistance. Any more gains might send the price toward the $0.5840 resistance or even $0.5880 in the near term. The next major hurdle might be $0.6000.<\/p>\n<h2>Another Drop?<\/h2>\n<p>If XRP fails to clear the $0.5550 resistance zone, it could start another decline. Initial support on the downside is near the $0.540 level and the trend line. The next major support is near the $0.5350 level.<\/p>\n<p>If there is a downside break and a close below the $0.5350 level, the price might continue to decline toward the $0.5265 support in the near term. The next major support sits near the $0.5180 zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for XRP\/USD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.5400 and $0.5350.<\/p>\n<p>Major Resistance Levels \u2013 $0.5500 and $0.5550.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP price is still struggling to clear the $0.5550 zone. The price must settle above the $0.5550 resistance to start a steady increase in the near term. XRP price is consolidating above the $0.5320 zone. The price is now trading above $0.5400 and the 100-hourly Simple Moving Average. There is a key bullish trend line&hellip;<\/p>\n","protected":false},"author":1,"featured_media":541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[149],"tags":[151,150,152,153,154],"class_list":["post-540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","tag-ripple","tag-xrp","tag-xrpbtc","tag-xrpusd","tag-xrpusdt"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=540"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/540\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/541"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}