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XRP Price Analysis for April 24

Mon, 04/24/2023 - 16:30
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Denys Serhiichuk
Can XRP rise while market keeps falling?
XRP Price Analysis for April 24
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The week has started with sellers' pressure, according to the CoinMarketCap ranking.

Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap


XRP has followed the drop of Bitcoin (BTC), going down by 1.15%.

XRP/USD chart by TradingView

Image by TradingView

Despite today's fall, bulls are not going to seize the initiative as the price is slightly approaching the local support level at $0.4561. If the closure happens near this mark, the drop may continue to the $0.45 zone.

XRP/USD chart by TradingView

Image by TradingView

On the bigger time frame, the situation is also rather more bearish than bullish as the price has made a false breakout of the resistance level at $0.4824.

Bitcoin (BTC) Price Analysis for April 23

If the bar closes with no long wicks, the decline may lead to the test of the support at $0.4428. Such a scenario is relevant until the end of the following week.

XRP/BTC chart by TradingView

Image by TradingView

The price of XRP is trading sideways on the daily chart against BTC as the rate is far from key levels. However, if the decline to the 0.00001650 mark continues, the accumulated power may be enough for a breakout, followed by a drop to the 0.000015 zone.

XRP is trading at $0.46017 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at