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XRP Price Analysis for September 13

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Wed, 13/09/2023 - 18:00
XRP Price Analysis for September 13
Cover image via www.tradingview.com

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Even though the day has started with the fall of most of the coins, buyers are trying to get back in the game.

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XRP/USD

The rate of XRP has risen by 0.64% over the past 24 hours.

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Image by TradingView

On the hourly chart, the rate of XRP is in the middle of the local channel; however, it is slowly approaching the resistance of $0.4893. If the situation does not change by the end of the day, the candle closure near the mentioned mark can be a prerequisite for a possible rise to the $0.50 zone.

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Image by TradingView

A less clear picture can be seen on the daily time frame, as the rate of XRP is trading sideways after a false breakout of the $0.46 level. As none of the sides has seized the initiative yet, ongoing consolidation between $0.47 and $0.49 remains the more likely scenario until the end of the week.

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Image by TradingView

From the midterm point of view, it is too early to make any predictions as the candle is far from the closure. Currently, one should pay attention to the vital zone of $0.50.

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If buyers can return the rate above it, there is a possibility of a further upward move to $0.55.

XRP is trading at $0.4841 at press time.

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