XRP's (CRYPTO:XRP) price is showing signs of recovery above crucial support levels, currently consolidating above $0.420.

If the cryptocurrency manages to break through resistance levels at $0.440 and $0.450, a bullish trend could ensue.

A short-term contracting triangle is forming with resistance at $0.4370, indicating a potential upward move.

However, failure to surpass the $0.440 resistance might lead to another decline, with initial support near $0.4320 and major support at $0.420.

Technical indicators like the hourly MACD and RSI suggest mixed signals, emphasising the importance of key resistance levels in determining XRP's near-term direction.