As a seasoned crypto investor with several years of experience under my belt, I’ve learned to read market trends and analyze charts with a critical eye. Today, as I gaze at the XRP/USD chart, I see that bulls are trying to keep most coins in the green zone, but XRP has taken a 1.45% hit over the last 24 hours.
Bulls are trying to keep most coins in the green zone, according to CoinStats.
XRP/USD
The rate of XRP has fallen by 1.45% over the last 24 hours.
As a researcher studying the hourly price chart of XRP, I’ve identified a potential support level at $0.5770. If the daily bar closes significantly away from this level, buyers could take control and potentially push the price back up towards the $0.60 area.
From a longer-term perspective, the price of XRP hasn’t reached significant milestones yet, indicating that neither buyers nor sellers hold clear control over its market direction.
The declining trading volume adds credence to this observation. Consequently, it’s more plausible that the market will move laterally between the prices of $0.57 and $0.61.
Looking at the mid-term perspective, the situation appears quite analogous. presently, it’s essential to keep an eye on the weekly chart. If the closing price approaches the peak, there is a possibility that the upward trend could reach the $0.70 milestone.
XRP is trading at $0.5827 at press time.
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2024-07-21 19:44