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XRP Price Analysis for September 22

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Fri, 22/09/2023 - 15:05
XRP Price Analysis for September 22
Cover image via www.tradingview.com

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Bulls are trying to get back in the game, according to CoinStats.

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XRP/USD

The rate of XRP has increased by 1.48% over the last 24 hours.

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Image by TradingView

On the hourly chart, the rate of XRP is on its way to testing the local resistance level of $0.5139. If the upward move continues by the end of the day, there is a chance to see a breakout followed by a further rise to the $0.52 area.

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Image by TradingView

On the daily time frame, the rate is far from important levels, which means that XRP has not accumulated enough energy for a sharp move. Buyers have a chance to seize the initiative only if they restore the price to the $0.52 mark.

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Image by TradingView

From the midterm point of view, traders should focus on the bar's closure. If it happens above the previous candle peak, the growth is likely to continue. 

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All in all, a possible upward move might lead to the test of the $0.54-$0.56 range by the end of the month.

XRP is trading at $0.5102 at press time.

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