XRP Price Prediction for May 24

Price Analysis
Fri, 05/24/2024 - 15:38
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Bears remain powerful as the prices of most of the coins are in the red zone, according to CoinMarketCap.

Top coins by CoinMarketCap


The price of XRP is almost unchanged since yesterday.

Image by TradingView

On the hourly chart, the rate of XRP is looking bullish as it is testing the local resistance of $0.5344. If its breakout occurs, the upward move may continue to the $0.5450 zone.

Image by TradingView

On the bigger time frame, the price is far from key levels. As none of the sides has seized the initiative, there are low chances to expect any sharp moves. 

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In this case, ongoing sideways trading in the zone of $0.52-$0.54 is the more likely scenario.

Image by TradingView

From the midterm point of view, the picture is quite similar. The volume remains low, confirming the absence of buyers' and sellers' energy. Respectively, traders can expect consolidation around $0.54 until the end of the month.

XRP is trading at $0.5351 at press time.