XRP Price Prediction for June 6

Price Analysis
Thu, 06/06/2024 - 10:37
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Buyers have failed to keep the weekend's rise, according to CoinStats.

XRP chart by CoinStats


The price of XRP has dropped by 0.47% since yesterday.

Image by TradingView

On the hourly chart, the rate of XRP is closer to the local support level than to the resistance. If the situation does not change, one can expect a level breakout, followed by a move to $0.52.

Image by TradingView

On the bigger time frame, the price of the altcoin is falling after a failed attempt to fix above the $0.53 mark. If buyers cannot seize the initiative by the end of the day, the correction may lead to a test of the $0.51 area soon.

Image by TradingView

From the midterm point of view, it is too early to make any distant price projections, as only a few days remain until the candle's closure. 

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In this regard, ongoing sideways trading in the wide range of $0.50-$0.54 is the more likely scenario.

XRP is trading at $0.5235 at press time.