XRP Price Prediction for June 23

Price Analysis
Sun, 06/23/2024 - 15:53
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The market is mainly trading sideways on the last day of the week, according to CoinMarketCap.

XRP chart by CoinMarketCap


The price of XRP has fallen by 0.45% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of XRP is about to break the local support level of $0.4845. If a breakout happens, the correction may continue to the $0.4830 range. Such a scenario is relevant until tomorrow.

Image by TradingView

On the bigger time frame, there are no key levels nearby. In this regard, one should pay attention to the candle closure in terms of yesterday's bar low.

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If it happens below, the fall may lead to a test of the $0.48 area.

Image by TradingView

A less clear picture is on the weekly time frame. The weekly bar is about to close far from its low and peak. It means neither side has accumulated enough strength for a further move. All in all, sideways trading in the narrow range of $0.47-$0.49 is the more likely scenario until the end of the month.

XRP is trading at $0.4845 at press time.