As a seasoned crypto investor with years of market navigations under my belt, I’ve learned to expect the ebb and flow of digital currency prices. The latest correction, as per CoinStats, doesn’t faze me much – it’s just another day in the life of a cryptocurrency investor!
Most of the coins have faced a correction, according to CoinStats.
XRP/USD
The price of XRP has gone down by 3.6%.
Based on the hourly chart, the value of XRP is currently selling lower than its immediate support at approximately $0.5696. If this trend persists and the price remains below that mark, it could potentially drop to around $0.56 by the next day.
Looking at the larger time periods, we don’t see any indications of a reversal just yet. However, if today’s candle ends close to its lowest point, there’s a possibility that the price may continue to fall towards the $0.55-$0.56 range by the week’s end.
Looking ahead toward the midpoint, things seem to be holding steady without much change in direction. Neither buyers nor sellers appear to be taking control just yet. The decrease in trading activity supports this observation.
In this regard, ongoing sideways trading in the area of $0.52-$0.60 is the most likely scenario.
XRP is trading at $0.5687 at press time.
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2024-09-18 19:50