XRP Price Analysis: Potential Rise to $0.50 Zone Expected

Read our XRP price analysis and find out the potential rise to $0.50 zone expected. Stay updated with the latest market trends and trading opportunities.

Posted 8 months ago in Market Analysis

Image of XRP price chart and candlestick patterns.

Even though the day has started with the fall of most of the coins, buyers are trying to get back in the game. The rate of XRP has risen by 0.64% over the past 24 hours.

On the hourly chart, the rate of XRP is in the middle of the local channel, slowly approaching the resistance of $0.4893. If the situation does not change by the end of the day, the candle closure near the mentioned mark can be a prerequisite for a possible rise to the $0.50 zone.

A less clear picture can be seen on the daily time frame, as the rate of XRP is trading sideways after a false breakout of the $0.46 level. Ongoing consolidation between $0.47 and $0.49 remains the more likely scenario until the end of the week.

From the midterm point of view, it is too early to make any predictions as the candle is far from the closure. Currently, one should pay attention to the vital zone of $0.50.

If buyers can return the rate above it, there is a possibility of a further upward move to $0.55. XRP is trading at $0.4841 at press time.

Last updated 9/14/2023, 1:49:17 AM


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