XRP Price Analysis: Bullish Momentum Could Lead to a Rise in the Coming Days

Get the latest analysis of XRP's price movement and potential rise in the coming days. Stay informed and make informed trading decisions.

Posted 8 months ago in Market Analysis

Image of XRP chart showing an upward trend

The weekend has started with an upward move by most coins. Top coins by CoinMarketCap XRP/USD. The price of XRP has risen by 1.10% over the last 24 hours.

On the hourly chart, the rate of XRP is slowly approaching the local resistance of $0.5032. If the daily candle closes around that mark, the breakout may lead to a blast to the $0.5050 zone. Such a scenario is relevant until tomorrow.

On the daily time frame, the situation is also more bullish than bearish as the price is on the way to test the resistance level of $0.5115. If the rate can fix above the important zone of $0.50, the upward move is likely to continue to the $0.52-$0.53 range next week.

From the midterm point of view, the candle is about to close in the bullish area for the first time over the last few weeks. However, the rate of XRP has not accumulated enough strength for a midterm rise. In this case, sideways trading in the area of $0.49-$0.52 is the more likely scenario until the end of the month.

XRP is trading at $0.50068 at press time.

Last updated 9/16/2023, 12:03:23 PM


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