XRP Price Under Siege: Losses Likely to Extend Amid Market Weakness

XRP price struggled to surpass the $0.500 resistance zone. The price is moving lower and showing bearish signs for a move below the $0.4850 support.XRP price faced another rejection near the $0.50 resistance zone.
The price is now trading below $0.4950 and the 100-hourly Simple Moving Average.
There was a break below a short-term rising channel with support at $0.4920 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could extend losses if there is a close below the $0.