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XRP Price Analysis for September 5

Tue, 09/05/2023 - 18:00
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Denys Serhiichuk
Has time arrived for local rise of XRP?
XRP Price Analysis for September 5
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Buyers are trying to seize the initiative at the end of the day, according to CoinStats.

Top coins by CoinStats


The price of XRP has increased by 0.79% since yesterday.

Image by TradingView

On the hourly chart, the rate of XRP might have found a local support of $0.4986. If the upward move continues and the daily bar closes near the resistance, the accumulated energy might be enough for a breakout, followed by a blast to the $0.51-$0.52 zone.

Image by TradingView

A less positive picture can be seen on the daily chart as the price is still far from the support and the resistance. Buyers might start thinking about a possible trend change only if they restore the rate above the $0.52 zone.

DOGE and SHIB Price Analysis for September 4

However, it might take more than a week for this scenario to come true.

Image by TradingView

From the midterm point of view, the rate of XRP is in the middle of the wide channel, between the support of $0.41 and the resistance of $0.58. As none of the sides has seized the initiative yet, sideways trading around the $0.50 area is the more likely scenario until mid-September.

XRP is trading at $0.5019 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