XRP Price Analysis: Will XRP Test $0.55 Area in the Near Future?

Find out the latest XRP price analysis and predictions. Explore potential for XRP to test the $0.55 area in the near future. Stay updated with the XRP market.

Posted 7 months ago in Market Analysis

XRP Coin Price Chart

Buyers are slightly losing their initiative as most of the coins are returning to the red zone. XRP chart by CoinStats XRP/USD

The price of XRP has fallen by 3.44% since yesterday.

On the hourly chart, the rate of XRP is in the middle of the local channel, getting energy for a sharp move. However, one should not expect any sharp moves today as most of the ATR has been passed.

In this case, sideways trading in the area of $0.515-$0.5158 is the more likely scenario.

On the bigger time frame, the rate of XRP is far from the resistance, which means that it is too early to think about a reversal. As neither side is dominating, ongoing consolidation in the area of $0.50-$0.53 is the more likely scenario for the upcoming week.

Almost the same situation is on the weekly chart. The price of XRP has set a resistance level of $0.54915. While the rate is below that mark, there is still a possibility to see a correction. Meanwhile, if bulls lose the vital zone of $0.50, the drop may lead to a test of the $0.45 area again.

XRP is trading at $0.5162 at press time.

Last updated 9/30/2023, 7:09:10 PM


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