This summary text is fully AI-generated and may therefore contain errors or be incomplete.
XRP, the cryptocurrency, has experienced a downward trend recently, falling from its resistance level of $0.732. Currently, it is at risk of further losses, potentially dropping to the support level of $0.550 before any bullish activity occurs.The decline began when XRP dropped below the support levels of $0.638 and $0.612. It is currently trading below $0.625 and the 100 simple moving average (4 hours). On the 4-hour chart, a significant declining channel is forming with resistance around $0.622.In the past few days, XRP has underperformed Bitcoin and Ethereum, experiencing a steady decline from the $0.740 zone. It fell below the support levels of $0.685 and $0.638, as well as the $0.612 support. Although there was a recovery wave from $0.572, the bears were active near $0.638, resulting in a downward movement.Currently, XRP is trading below $0.625 and the 100 simple moving average (4 hours). On the 4-hour chart, a key declining channel is forming with resistance near $0.622. The immediate resistance level is around $0.615, followed by the $0.622 zone, which includes the 100 simple moving average (4 hours) and the upper zone of the channel. A close above the $0.622 resistance zone could potentially trigger a steady increase.If the bulls remain active and surpass the $0.638 resistance level, XRP may rally towards the $0.700 resistance. Further gains could push the price towards the $0.720 resistance.However, if XRP fails to clear the $0.622 resistance zone, it could initiate a fresh decline. The initial support level on the downside is around $0.588, followed by the major support level at $0.572. A downside break and close below $0.572 could lead to an accelerated decline, with the price potentially retesting the $0.540 support zone.Based on technical indicators, the MACD for XRP/USD is currently in the bearish zone and gaining pace, while the RSI (Relative Strength Index) is below the 50 level.In summary, XRP is currently facing downward pressure and is at risk of further losses. The key resistance levels to watch are $0.622 and $0.638, while the support levels are $0.588, $0.572, and $0.540.