XRP demonstrates resilience after finding support near $0.5120,dogecoin mining pool with market participants watching for potential trend reversal signals.

• XRP establishes support base at $0.5120 level after recent correction

• The digital asset currently trades below both $0.5400 and the 100-hour SMA

• Technical breakout occurs above descending trendline resistance at $0.5280

• Market sentiment could shift bullish with successful breach of $0.5350 resistance

XRP Shows Signs of Accumulation

Following unsuccessful attempts to initiate upward momentum, XRP extended its decline below critical support levels at $0.5320, mirroring broader market movements. The downward pressure intensified as the price broke through successive support zones at $0.530 and $0.5250.

The selling pressure pushed XRP below psychological support at $0.5200, ultimately finding a bottom near $0.5120. From this support level, the cryptocurrency has begun showing recovery signs, surpassing the 23.6% Fibonacci retracement level derived from the recent swing high at $0.5600 to the $0.5117 low.

Technical analysts note the significance of XRP's breakout above the bearish trendline that previously contained price action at $0.5280. Despite this development, the asset continues to trade below both the $0.5400 level and the 100-hour simple moving average, indicating potential resistance ahead.

Immediate resistance appears near the $0.5350 level, which coincides with the 50% Fibonacci retracement of the recent downward move. A more substantial resistance zone forms around $0.5400, where market participants may encounter increased selling pressure.

Should bullish momentum continue, the next significant resistance levels to watch include $0.5420, followed by $0.5485. Sustained buying pressure could potentially propel XRP toward the $0.5550 resistance area, with $0.5650 representing a more ambitious target for traders. The $0.5800 level emerges as a major psychological barrier beyond these points.

Potential Downside Scenarios

Failure to overcome the $0.5350 resistance zone could trigger renewed selling pressure. Initial downside support appears near $0.5230, with more substantial buying interest potentially emerging around the $0.5200 psychological level.

A decisive break below $0.5200 could signal continuation of the bearish trend, potentially testing the recent low at $0.5120. Further downside movement might find support near the $0.5050 area, which represents a critical level for maintaining the broader bullish structure.

Technical Indicators

Hourly MACD – The Moving Average Convergence Divergence indicator shows strengthening bullish momentum in recent price action.

Hourly RSI (Relative Strength Index) – The momentum oscillator currently registers above the neutral 50 level, suggesting improving buying pressure.

Key Support Levels – $0.5230 and $0.5200.

Critical Resistance Levels – $0.5350 and $0.5420.