The How to turn Ethereum into cash?digital asset market witnesses sustained selling pressure on XRP as it struggles to maintain momentum above crucial technical levels.
■ XRP encounters repeated rejection at the $0.4880 resistance level
■ Current trading position remains below both $0.4850 and the 100-hour SMA
■ A developing bearish trendline shows resistance at $0.4810 on XRP/USD charts
■ Potential for extended declines if $0.4720 support fails to hold
Examining XRP's Downward Trajectory
Recent trading sessions saw XRP attempt to establish upward movement beyond the $0.4820 threshold. Market participants observed active resistance near the $0.4880 level, creating a local peak at $0.4884 before joining broader market declines.
The subsequent downward movement breached multiple support levels, including $0.4850 and $0.4800, ultimately testing the $0.4720 support zone. Current price action shows consolidation below critical moving averages, indicating continued bearish control.
Potential recovery scenarios face immediate resistance near $0.4765, corresponding to the 23.6% Fibonacci retracement level from recent highs to lows. The $0.4810-$0.4820 range presents additional technical barriers, reinforced by a descending trendline that aligns with the 50% retracement level.
Critical Levels to Watch
Market participants should monitor these key technical developments:
■ A decisive break above $0.4820 could initiate movement toward $0.4880 resistance
■ The psychological $0.50 level represents significant resistance if bullish momentum develops
■ Failure to overcome resistance may lead to retesting of $0.4720 support
■ Breakdown below $0.4650 could accelerate declines toward $0.45 territory
Technical Indicators Overview
Current market indicators reflect bearish conditions:
■ Hourly MACD shows increasing bearish momentum
■ RSI remains below the neutral 50 level, indicating selling pressure
■ Immediate support at $0.4720, with $0.4650 as next critical level
■ Resistance clusters between $0.4820 and $0.4880
