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XRP Price Prediction for May 3

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Fri, 3/05/2024 - 15:43
XRP Price Prediction for May 3
Cover image via www.tradingview.com

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Bulls are back in the game, according to CoinStats.

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XRP chart by CoinStats

XRP/USD

The price of XRP has gone up by 1.55% since yesterday.

Image by TradingView

On the hourly chart, the rate of XRP might have set a local support level of $0.5150. At the moment, it is approaching the resistance of $0.5265. If the daily bar closes near that mark, there is a chance to see a breakout to $0.53.

Image by TradingView

On the daily time frame, one should pay attention to the candle closure in terms of the level of $0.5248. 

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If it happens near it or above, buyers may seize the initiative, which can lead to a test of the $0.53-$0.54 zone next week.

Image by TradingView

On the bigger chart, the rate of XRP is far from the main levels, which means neither bulls nor bears are dominating. In this case, ongoing sideways trading between $0.52 and $0.54 is the more likely scenario.

XRP is trading at $0.5238 at press time.

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