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XRP Prediction for August 15

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Thu, 15/08/2024 - 15:53
XRP Prediction for August 15
Cover image via U.Today

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The market remains under sellers' pressure, according to CoinStats.

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XRP chart by CoinStats

XRP/USD

The price of XRP has declined by 0.58% over the past day.

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Image by TradingView

On the hourly chart, the rate of XRP is in the middle of the local channel, between the support of $0.5624 and the resistance of $0.5742. 

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As neither buyers nor sellers are dominating, ongoing sideways trading is the more likely scenario until the end of the day.

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Image by TradingView

On the bigger time frame, one should pay attention to the nearest support level of $0.5627. If the price comes back to it, that might be a prerequisite for a breakout, followed by a dump to the $0.55-$0.56 range.

Article image
Image by TradingView

From the midterm point of view, the situation has not changed much. Currently, traders should focus on the closest zone of $0.60. If it breaks out, growth can lead to the test of the $0.65 area soon.

XRP is trading at $0.5709 at press time.

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