As a seasoned researcher with over a decade of experience in the cryptocurrency market, I find myself constantly on the lookout for promising opportunities amidst the ever-changing landscape of digital assets. Today, the weekend has brought about an optimistic start for most coins, as per CoinMarketCap’s data.
The weekend has started mainly bullish for most of the coins, according to CoinMarketCap.
XRP/USD
The rate of XRP has increased by 3.32% over the last day.
On an hourly basis, it appears that the price of XRP may have reached a temporary ceiling at around $0.5925. Given that much of the daily Average True Range (ATR) has been exhausted, a significant increase in price seems improbable for now. Instead, it’s more probable that we’ll see sideways trading within the range of approximately $0.58 to $0.59 until tomorrow.
Over a larger time period, keep an eye on the closing price of the bar around the level of 0.5845. If the close is above this point, a potential increase could prompt a quick examination of the $0.60 area.
Looking at the midpoint, the pace of XRP‘s advance appears to be building momentum towards a significant surge. However, the trading volume has decreased, indicating that neither party has gained a clear advantage in this ongoing battle.
All in all, ongoing sideways trading in the area of $0.55-$0.65 is the more likely scenario.
XRP is trading at $0.5868 at press time.
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2024-09-14 20:21