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XRP Price Analysis for April 8

Sat, 04/08/2023 - 18:00
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Denys Serhiichuk
Can XRP rise against neutral market mode?
XRP Price Analysis for April 8
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Bulls turned out to be more powerful than bears at the beginning of the weekend.

Top coins by CoinMarketCap


XRP has followed the rise of Bitcoin (BTC) and other coins, going up by 1%.

XRP/USD chart by TradingView

Despite today's rise, it does not seem like XRP is going to grow as the price is slowly approaching the local support level at $0.5080.

DOGE Price Analysis for April 6

If the situation does not change by the end of the day, the breakout might be a prerequisite for a sharp drop to the $0.50-$0.5050 zone.

XRP/USD chart by TradingView

The rate of XRP has not decided which way to go yet as the price is in the middle of the channel, accumulating energy for a further move. In this case, ongoing consolidation in the area of $0.50-$0.52 remains the more likely scenario for the next few days.

XRP/USD chart by TradingView

A similar situation is on the weekly time frame of XRP. The low volume confirms the fact that the coin does not have enough strength to grow or decline. However, if buyers can hold the price above the vital $0.50 mark, the local upward move may last to the $0.54 mark.

XRP is trading at $0.5092 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