🚨XRP Price Forecast Shows Steep Decline - Major Support Risks Breaking☠️

XRP's price is struggling to recover above the $0.5050 resistance zone. After an attempt to push prices above $0.500, the bearish momentum has returned, and the price is currently trading below $0.480 - a crucial support level.

XRP Technical Analysis at the Current Stage

There has been a breakdown below the ascending trendline on the XRP/USD hourly chart from Kraken exchange.
The price is currently trading below the 23.6% Fibonacci retracement level of the recent recovery from $0.4533 to $0.5053.
The immediate resistance is near $0.4920, followed by $0.4950 and $0.500.
If the price closes above $0.500, the chances of a recovery towards $0.5250 will increase.
However, if it fails to clear the $0.4950 resistance zone, selling pressure could intensify, making it difficult for the $0.480 support to hold.

XRP's Downtrend Could Potentially Reach $0.4550

The secondary support is near $0.4740 if the $0.480 zone is breached.
A close below $0.4740 could open the doors for a sharp decline towards the $0.4550 area.
This scenario is likely if XRP continues to struggle at major resistance levels such as $0.500 and $0.5050.

Overall, XRP is facing the risk of a deeper decline if it fails to break through key resistance levels in the near term. Traders should closely monitor the support and resistance levels to make informed investment decisions$XRP