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XRP Price Prediction for November 6

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Wed, 6/11/2024 - 15:57
XRP Price Prediction for November 6
Cover image via U.Today

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Bulls are controlling the situation on the market, according to CoinStats.

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XRP chart by CoinStats

XRP/USD

The price of XRP has risen by 3.26% since yesterday.

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Image by TradingView

On the hourly chart, the rate of XRP is in the middle of the local channel, between the support of $0.5140 and the resistance of $0.5426. 

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As most of the daily ATP has been passed, there are low chances of any sharp moves by the end of the day.

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Image by TradingView

On the bigger time frame, the picture is unclear. Even if today's bar closes bullish, the price of XRP might need more time to accumulate energy for a further move. In this case, sideways trading in the area of $0.52-$0.54 is the more likely scenario.

Article image
Image by TradingView

From the midterm point of view, none of the sides is dominating. If the weekly candle closes around the current prices, traders may witness ongoing consolidation in the range of $0.50-$0.56.

XRP is trading at $0.5315 at press time.

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