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 2 months ago in Market Analysis
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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