Buyers do not seem ready for a midterm rise yet, according to CoinStats.
XRP/USD
The price of XRP has dropped by 8.71% since yesterday.
On the hourly chart, XRP‘s price is fluctuating between the support of $0.5394 and the resistance of $0.5490. If buyers cannot hold onto the intermediate level at $0.5450, a potential sell-off could result in a challenge of the $0.54 mark tomorrow.
The current decline in today’s market prices hasn’t significantly altered the larger technical trend depicted on the daily chart. At present, the price stands a considerable distance away from crucial resistance and support levels. Consequently, major price swings are unlikely to materialize anytime soon.
In summary, it’s expected that the stock will move between approximately $0.53 and $0.56 over the next few days.
Looking at the midterm perspective, it’s important to pay attention to the weekly closing price reaching the support level of $0.5140. If this occurs close by, there could be sufficient energy built up for a price breakout towards the $0.46-$0.50 range.
XRP is trading at $0.5433 at press time.
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2024-04-13 19:42