As an experienced analyst with a background in finance and a keen interest in the crypto market, I find myself observing the current situation of XRP/USD with a mix of anticipation and caution. Over the past 24 hours, we’ve seen a slight dip of 2.89%, but the hourly chart paints a bullish picture if buyers can hold their ground.
The weekend has started bearish for the majority of the coins, according to CoinMarketCap.
XRP/USD
The rate of XRP has fallen by 2.89% over the last 24 hours.
On an hourly chart, the price of XRP appears optimistic, approaching its nearby resistance at around $0.5153. If buyers maintain control over the upward trend until the end of the trading day, it’s likely we’ll witness a breakthrough, potentially leading to a test of the $0.53 price range.
Looking at a larger perspective, the price trend for XRP appears to be increasing following a rebound from its support at approximately $0.4922. Should the closing price on the daily chart significantly deviate from this level, it’s probable that the upward momentum will persist towards the $0.52 area.
Looking at the midterm perspective, the price is significantly distant from significant price levels. Additionally, the lack of both buying and selling strength is evident as the trading volume decreases.
All in all, ongoing sideways trading in the range of $0.50-$0.54 is the more likely scenario.
XRP is trading at $0.5102 at press time.
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2024-10-26 19:53