The current status of XRP in the cryptocurrency market is crucial, as it struggles to surpass the $0.64 mark and the 100-day moving average. These levels act as resistance barriers that have the potential to influence XRP's price movements. If XRP manages to break through the $0.6580 resistance level, it could indicate a bullish trend towards the $0.700 mark.

Traders are closely monitoring XRP's performance as it hovers around $0.6180, encountering significant resistance at $0.640. Overcoming this resistance could lead to a substantial price increase, while failure to do so may result in a price decline. The next critical support levels for XRP are at $0.600 and $0.5720.

Potential Downward Trends for XRP

Failure to surpass the $0.64 resistance level may pose a risk of further decline for XRP. A drop below $0.600 could signal a test of the $0.5720 support level, with the possibility of a more significant decline towards $0.5250. Technical indicators like MACD and RSI provide mixed signals, emphasizing the importance of the $0.64 resistance level and the $0.700 target if XRP experiences an upward breakout.

XRP's market performance is significantly impacted by external factors, such as Ripple's regular sales of XRP holdings, hindering price appreciation. Additionally, Ripple's ongoing legal challenges add uncertainty to XRP's market outlook.