As an experienced analyst, I’ve seen my fair share of market fluctuations, and the current trend with XRP is no exception. Based on the data from CoinMarketCap and the hourly, daily, and weekly charts provided, it appears that XRP’s recent rise has stalled, with the rate declining by 0.42% over the last day.
Some coins could not keep yesterday’s rise going, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 0.42% over the last day.
On the hourly chart, XRP‘s price appeared to breach the $0.4808 resistance mark, but this turnout might have been a deceptive breakout. Should the daily bar’s closing price stray from this level, the correction could persist and reach $0.4762.
From a longer-term perspective, neither side has gained clear control over the market as the price remains significantly away from key resistance and support levels. It might take buyers pushing the price back up to $0.4850 and establishing a foothold above this point for any potential trend reversal to materialize.
On the weekly chart, a comparable image emerges with relatively light trading volumes. This signifies that investors have yet to build up sufficient confidence to take charge of the market.
Moreover, if the weekly bar closes far from its peak, traders can witness an ongoing drop to $0.47.
XRP is trading at $0.4805 at press time.
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD ZAR PREDICTION
- USD PHP PREDICTION
- DPLAT PREDICTION. DPLAT cryptocurrency
- AVAX PREDICTION. AVAX cryptocurrency
- TAO PREDICTION. TAO cryptocurrency
- NLS PREDICTION. NLS cryptocurrency
- INV PREDICTION. INV cryptocurrency
- USD CHF PREDICTION
- FOXY PREDICTION. FOXY cryptocurrency
2024-07-02 15:02