XRP price extended losses below the $0.5120 support zone. It tested the $0.5080 zone and now attempting another recovery wave toward $0.5350.
XRP is struggling to start a fresh increase above the $0.5250 resistance zone.
The price is now trading below $0.5150 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance near $0.5180 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could continue to move down if the price stays below $0.5250.
XRP Price Extends Losses
XRP price remained in a short-term bearish zone like Bitcoin and Ethereum. The price struggled to start a recovery wave and extended losses below the $0.5220 support zone.
It even declined below the $0.5120 support. A low was formed at $0.5080 and the price is now attempting a fresh recovery wave. There was a move above the $0.5120 level. The price climbed above the 23.6% Fib retracement level of the downward wave from the $0.5405 swing high to th
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