XRP Price Analysis for December 24

Price Analysis
Sun, 12/24/2023 - 18:00
Cover image via www.tradingview.com
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Coins keep setting new local peaks, according to CoinStats.

XRP chart by CoinStats

XRP/USD

The price of XRP has risen by 0.75% over the last 24 hours.

Image by TradingView

The rate of XRP is approaching the resistance level of $0.6227. If a breakout happens, the price may blast to the $0.63 zone.

Image by TradingView

On the daily time frame, the price of XRP is trading sideways in the middle of the wide channel.

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Buyers may only start thinking about midterm growth if the rate returns to the $0.64 area and fixes above it.

Image by TradingView

On the weekly chart, the rate has once again bounced off the support level of $0.5860. While the price is above that mark, buyers have a chance to seize the initiative. In this case, the bounce back may lead to a test of $0.65.

XRP is trading at $0.6240 at press time.