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XRP Price Analysis for July 23

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Sun, 23/07/2023 - 18:00
XRP Price Analysis for July 23
Cover image via www.tradingview.com

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On the last day of the week, the cryptocurrency market is mostly trading sideways.

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Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

XRP/USD

The price of XRP has declined by 4% since yesterday.

XRP/USD chart by TradingView

Image by TradingView

Despite today's decline, the rate of XRP is trying to reach the local resistance level at $0.7455. If buyers can hold the initiative until the end of the day, there is a chance to see a bounce back to the $0.76 area.

XRP/USD chart by TradingView

Image by TradingView

On the daily time frame, the situation remains unclear as the rate is far from the key levels.

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However, if buyers lose the important zone of $0.70, the drop can continue to the nearest support shortly.

XRP/USD chart by TradingView

Image by TradingView

On the bigger chart, the price failed to keep rising, and there is a high chance to see a local correction. If the rate does not return to the $0.80 area soon, traders may expect a test of the support at $0.6570 soon.

XRP is trading at $0.7386 at press time.

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