XRP Price Recovery Mode Engaged — Bulls Hunt An Upside Break

XRP's price experienced further losses, dropping below $1.5320 and entering a bearish trend. The cryptocurrency is currently attempting a recovery after finding support around $1.50. However, the price faces significant resistance levels near $1.6250 and $1.650, which are key hurdles. The price is trading below the 100-hourly Simple Moving Average, indicating bearish pressure. A key bearish trend line also presents resistance around $1.6250 on the hourly chart. If XRP fails to break above $1.6250, it risks further declines. Initial support is at $1.550 and then at $1.5250, with potential drops to $1.50 and lower if these levels are breached. On the upside, a break above $1.650 could lead to gains towards $1.7190 and even $1.770. The Relative Strength Index (RSI) is currently above 50, suggesting some bullish momentum. Conversely, the Moving Average Convergence Divergence (MACD) is losing pace in the bearish zone.