Main navigation

XRP Price Analysis for July 27

Price Predictions
Tue, 07/27/2021 - 13:57
article image
Denys Serhiichuk
Does XRP have the potential to restore itself after a recent fall?
XRP Price Analysis for July 27
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Bears have seized the initiative in the short-term scenario as all of the top 10 coins are under seller pressure again.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

XRP/USD

During the day yesterday, the bulls tried to break through to the level of $0.70. But the buying volumes were at an average level, and, as a result, they managed to mark a local maximum only around the $0.68 mark.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

At the end of the day, sellers seized the initiative and returned the pair to the average price area. Today the pair is consolidating in a rather narrow range on the POC line ($0.624).

Related
BTC, XRP, and ADA Price Analysis for July 25

If buyers are persistent, a retest of the target level of $0.70 and a new July high are quite possible.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the bigger time frame, bulls are also more powerful than bears, with XRP coming back to the zone of the most liquidity where the fall started from. In the event of a breakout, there are good chances of seeing a test of the resistance at $0.70 shortly.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the daily chart, the picture is also bullish as bulls are about to break the resistance at $0.6790. They might manage to do that as traders are accumulating power based on the low trading volume. If that occurs, the next mark at which bears may show power is $0.80.

XRP is trading at $0.6512 at press time.

article image
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.