<em><strong>The XRP Technical Analysis shows an increase in selling pressure during the retest phase, teasing a drop under the $0.50 mark.</strong></em>

The XRP price action showed a bullish breakout of the $0.50 mark with a jump last week. However, the increase in selling pressure today leads to a retest phase. So, will <a href="https://www.cryptoknowmics.com/news/ripple-keeps-hiring-amid-the-crypto-bear-market/" target="_blank" rel="noopener">Ripple</a> prices fall under the $0.50 mark?
<h3>Key Points:</h3>
<ul>
 	<li>The Ripple price action shows a retracement to the support trendline.</li>
 	<li>The hopes of an early bull cycle in the stochastic RSI indicator rise as the VI lines come close.</li>
 	<li>The intraday trading volume in Ripple is $163 million.</li>
</ul>
<img src="https://s3.tradingview.com/snapshots/z/ZdKz4oNZ.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/ZdKz4oNZ/" target="_blank" rel="nofollow noopener">TradingView</a>
<h2>XRP Technical Analysis</h2>
As we mentioned in our <a href="https://www.cryptoknowmics.com/news/xrp-technical-analysis-double-bottom-teases-0-50-breakout" target="_blank" rel="noopener">previous analysis</a>, the XRP price action shows a double-bottom pattern breakout with the neckline at $0.51. The bullish breakout of the psychological mark led to a 3% jump yesterday to create a solid green candle.

However, the price trend fails to sustain an uptrend as the bearish influence grows over the daily candle leading to a drop to $0.51 as a retest. Also, the increase in selling pressure is evident by the spike in trading volume teasing a dip under the psychological mark.

If the selling pressure grows over the day, the Ripple market price will drop to the bottom support level of $0.43. However, traders hoping to capture the downfall must wait for the candle to close below the neckline at $0.51.

Optimistically, if the bullish momentum sustains, a post-retest reversal will sustain the XRP prices above the $0.50 mark. In such a case, the traders can expect the recovery rally to reach the $0.59 resistance level.
<h2>Technical Indicators</h2>
The RSI indicator shows a bearish divergence in the uptrend teasing a potential drop under the $0.50 mark. Moreover, the lateral trend in the MACD and signal lines display a merger possibility leading to a bearish crossover.

Therefore, the XRP technical analysis suggests that traders can find a selling opportunity shortly.

Resistance Levels - $0.60 and $0.69

Support Levels - $0.51 and $0.42

XRP Technical Analysis: Bears Sabotage Retest At $0.50

The XRP technical analysis shows an increase in selling pressure during the retest phase, teasing a drop under the $0.50 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

XRP Technical Analysis: Bears Sabotage Retest At $0.50

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