XRP Price Falls Below $0.50: Key Takeaways for the Market

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	296,611,063,095	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

296,611,063,095

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-12.16	-0.49%	2,463.63	2,463.59	2,463.63

Price Change

Price Change %

Current Price

Bid Price

Offer

-12.16

-0.49%

2,463.63

2,463.59

2,463.63

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2,484.44	2,452.70	2,477.69	2,475.79	1,537.31 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2,484.44

2,452.70

2,477.69

2,475.79

1,537.31 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	10:15:46	0.079967	2,463.63	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

10:15:46

0.079967

2,463.63

USD

Price x Volume	Volume	Base Symbol	Related Pairs
22,255,013.71	9,025.39	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

22,255,013.71

9,025.39

XRP Price Falls Below $0.50: Key Takeaways for the Market

05/08/2024 6:28am

NEWSBTC

XRP price is down over 15% and trading below $0.50. The price is showing bearish signs and might struggle to recover above the $0.520 resistance. XRP price traded below the $0.500 and $0.4850 support levels. The price is now trading below $0.4880 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.5180 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could attempt a steady recovery wave if it clears the $0.520 resistance zone. XRP Price Dives Over 15% XRP price started a major decline below the $0.500 support after Ethereum and Bitcoin nosedived. There was a major decline below the $0.4850 support zone. The price tested the $0.460 zone. A low is formed at $0.460 and the price is now consolidating losses. It is showing a lot of bearish signs below the 23.6% Fib retracement level of the downward move from the $0.5767 swing high to the $0.460 low. The price is now trading below $0.5880 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance at $0.5180 on the hourly chart of the XRP/USD pair. If there is a recovery wave, the price could face resistance near the $0.4880 level. The first major resistance is near the $0.500 level. The next key resistance could be $0.5180 or the trend line or the 50% Fib retracement level of the downward move from the $0.5767 swing high to the $0.460 low. A clear move above the $0.520 resistance might send the price toward the $0.5350 resistance. The next major resistance is near the $0.5440 level. Any more gains might send the price toward the $0.550 resistance or even $0.5650 in the near term. More Downsides? If XRP fails to clear the $0.520 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4650 level. The next major support is at $0.460. If there is a downside break and a close below the $0.460 level, the price might continue to decline toward the $0.4350 support in the near term. The next major support sits at $0.4250. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.4600 and $0.4500. Major Resistance Levels – $0.5000 and $0.5200.

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