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XRP Price Analysis for August 27

Sun, 08/27/2023 - 18:00
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Denys Serhiichuk
When can traders expect price blast of XRP?
XRP Price Analysis for August 27
Cover image via www.tradingview.com

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The prices of most coins are rising today, according to Coinstats.

Top coins by Coinstats

Top coins by Coinstats

XRP/USD

The price of XRP has increased by 0.89% since yesterday.

XRP/USD chart by TradingView

Image by TradingView

On the hourly chart, traders should pay attention to the local resistance at $0.5296. If the bar closes around that mark today, the growth may continue to the $0.5340 zone tomorrow.

XRP/USD chart by TradingView

Image by TradingView

On the daily time frame, the situation has almost not changed over the last days, which means any sharp moves are unlikely to happen soon.

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DOGE and SHIB Price Analysis for August 26

All in all, ongoing sideways trading in the area of $0.52-$0.54 is the more likely scenario for the upcoming week.

XRP/USD chart by TradingView

Image by TradingView

From the midterm point of view, the rate of XRP is far from the key levels, confirming that bears might have run out of power. However, the altcoin has not accumulated enough energy for an upward move yet. Respectively, consolidation in the area of $0.50-$0.55 is the more likely scenario until mid-September.

XRP is trading at $0.5261 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 denys.serhiichuk@u.today.