As someone who has been closely following and investing in cryptocurrencies for the past few years, I can’t help but feel a sense of disappointment as I read about the latest drop in XRP‘s value. According to CoinStats, the market is falling, and XRP has dropped by 4.74% since yesterday. This decline is significant, especially considering that the price had shown some signs of recovery in recent days.
The cryptocurrency market is falling, according to CoinStats.
XRP/USD
The rate of XRP has dropped by 4.74% since yesterday.
Hourly chart indicators show that XRP‘s price has dipped beneath the $0.5158 support mark. Should current trends persist through the day, a potential drop towards the $0.51 price zone could occur when markets reopen tomorrow.
Looking at the larger time scale, no signs of a price reversal for XRP have appeared thus far. Therefore, it’s likely that XRP will continue to decline and reach the $0.48-$0.50 price range.
Such a scenario is relevant until the end of the week.
Observing from a midterm perspective, I’ve noticed that XRP‘s price has rebounded from the $0.55 area. This indicates that bears are currently holding more power over the market than bulls. If the weekly bar ends up closing beneath the crucial zone of $0.50, traders should brace themselves for a possible challenge at $0.45.
XRP is trading at $0.5145 at press time.
Read More
- BTC PREDICTION. BTC cryptocurrency
- USD PHP PREDICTION
- LIT PREDICTION. LIT cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- ORAI PREDICTION. ORAI cryptocurrency
- USD COP PREDICTION
- USD MYR PREDICTION
- BCH PREDICTION. BCH cryptocurrency
- USD CNY PREDICTION
- USD ZAR PREDICTION
2024-04-25 18:11