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XRP Price Analysis for September 22

Thu, 09/22/2022 - 16:26
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Denys Serhiichuk
Can traders expect fast rise of XRP to $0.50 mark?
XRP Price Analysis for September 22
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.

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Some cryptocurrencies are trying to come back to the green zone, while others still remain in the red.

Top coins by CoinMarketCap

XRP/USD

XRP is the biggest gainer in the top 10 list, rocketing by almost 10%.

XRP/USD chart by TradingView

On the hourly time frame, XRP has formed a local resistance level at $0.4477 against the increased volume.

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There are low chances to see further growth today as the daily ATR is passed. Respectively, the more likely scenario is a slight correction to the $0.4250 zone.

XRP/USD chart by TradingView

XRP has absorbed yesterday's fall, which means that buyers remain more powerful than bears. If nothing changes and the rate remains above $0.4234, the upward move may continue to the $0.46 mark.

XRP/USD chart by TradingView

On the weekly chart, the situation is also positive. If bulls can hold the gained initiative and the volume is high, one can expect further midterm growth to the $0.50 area. Such a scenario is relevant until mid-October.

XRP is trading at $0.4320 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.