Ripple is finding it difficult to break out of the 50-day SMA. The bears should now attempt to sink the digital currency below $0.56270 levels once again. If successful, a retest of the April 01 lows of $0.45351 will be on the cards.
On the other hand, if the bulls defend the $0.56270 levels, traders can initiate long positions on the XRP/USD pair with a stop loss at $0.45.
On the upside, the first target should be $0.7 and above it $0.83.