XRP Price Analysis: Is a Midterm Rise Imminent for Traders?

Discover the latest analysis on XRP price movement and the possibility of a midterm rise for traders. Stay updated with the changing dynamics of the XRP market.

Posted 8 months ago in Market Analysis


XRP price chart showing sideways movement and resistance level testing.

Neither bulls nor bears are dominating on the last day of the week, according to CoinStats. Top coins by CoinStats XRP/USD The rate of XRP has fallen since yesterday. Over the last week, the price has risen by 2.64%.

Despite today's slight fall, the price of XRP is on the way to testing the recently formed resistance level of $0.5109. If buyers can hold the gained initiative, the breakout can be a prerequisite for further growth to the $0.5140 area soon.

On the daily time frame, the rate of XRP has not accumulated enough energy for a sharp move. The price is trading within yesterday's bar, which means that ongoing sideways trading is the more likely scenario for the next few days.

A similar picture is on the weekly chart, as the rate is in the middle of the wide channel between the support at $0.401 and the resistance at $0.5848.

If the rate remains above the important zone of $0.50 until the end of the week, sideways trading in the range of $0.50-$0.53 is the more likely scenario until the end of the month. XRP is trading at $0.5102 at press time.

Last updated 9/25/2023, 4:57:44 AM

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