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XRP Price Analysis for April 12

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Wed, 12/04/2023 - 18:00
XRP Price Analysis for April 12
Cover image via www.tradingview.com

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Bulls could not hold the initiative for long, and most of the coins have returned to the red zone.

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XRP/USD

XRP has followed the decline of other coins, falling by 2.39%.

XRP/USD chart by TradingView

On the hourly chart, the price of XRP has found the local support at $0.5017. If bulls can hold the price above that mark until the end of the day, the growth may continue to the resistance at $0.51 tomorrow.

XRP/USD chart by TradingView

On the daily time frame, the situation is rather more bearish than bullish. At the moment, traders should pay attention to the important zone of $0.50.

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If closure happens below it, the accumulated energy should be enough for a fall to the support level at $0.4824.

XRP/USD chart by TradingView

On the weekly chart, it is too early to make any predictions as the candle is far away from closure. However, if the bar does not close above the previous peak at $0.5269, there is a chance to see a decline to the $0.46 area by the end of the month.

XRP is trading at $0.50060 at press time.

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