Original U.Today article

XRP Price Analysis for September 7

Thu, 09/07/2023 - 18:00

When can traders expect local bounce back of XRP?

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The cryptocurrency market is trading neutral at the end of the day, according to the CoinStats ranking.

XRP/USD

XRP has joined the list of rising coins today, going up by 0.21%.

On the hourly chart, the price of XRP might have found a local support level of $0.4958. If growth continues to the $0.50 zone and the rate can fix above that vital mark, traders might see an upward move to $0.5039 tomorrow.

On the daily time frame, the rate is far from the support and the resistance, which means that ongoing sideways trading remains the more likely scenario until the end of the week. All in all, traders might expect a consolidation in the range of $0.4950-$0.5050 for the next few days.

A similar picture can be seen on the weekly chart as none of the sides is dominating at the moment. Such a statement is also confirmed by the declining volume. A possible move to the resistance of $0.5848 can happen only if the price fixes above the interim zone of $0.55.

XRP is trading at $0.4992 at press time.

#XRP Price Prediction

About the author

Denys Serhiichuk

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.