Home
News
- XRP price prediction showcases the short sellers’ pressure over the token during the day’s trading session.
- XRP crypto is currently trading above 20, 50, 100 and 200-days Daily Moving Average.
- The pair of XRP/BTC was at 0.00001681 BTC with an intraday drop of 1.48%.
XRP price prediction suggests the downward velocity of XRP crypto and is trying to revert back towards the upper resistance level with stability. XRP price needs to recover itself out of the resistance level of $0.549 and must adapt to the uptrend by attracting buyers. However, currently sellers are raiding the XRP tokens as selling pressures continue to soar after the trend reversal yesterday.
XRP price was at $0.5020 and has lost 2.94% of its market capitalization during the day’s trading session. Trading volume has decreased by 5.06% during the intraday trading session. Volume to market cap ratio was at 0.0456.
XRP Price – Technical Analysis!
On the daily time frame chart, the XRP price prediction highlights the problems with the price’s sustainability at the current level. For XRP to continue its ascent towards the $1, it must maintain itself at the resistance level. Analysts also predict that by the middle of 2023, the price of XRP would rise to $1. The price of XRP has risen above the 20-day, 50-day, 100-day, and 200-day daily moving averages.
The price of XRP has risen 34.31% in the past month and 0.04% over the past week. This suggests that the XRP phase is recovering. Additionally, the XRP price’s quarterly report shows a strong rise of 34.72%.
The price of XRP has increased by 4.65% over the last six months, showing excellent recovery. Additionally, the price of XRP has increased by 48.43% year to date, supporting the prediction that it will reach $1 in 2023.
Technical indicators point to problems with the XRP price’s endurance inside the overbought zone. The decline in XRP price is displayed by the relative strength index. The RSI stood at 56 and is edging closer to oversold neutrality.
The MACD shows that the price of XRP is declining. After a negative crossover, the MACD line is lower than the signal line. XRP investors must wait till the price of the cryptocurrency maintains at the current resistance level.
Summary
XRP price prediction suggests the downward velocity of XRP crypto and is trying to revert back towards the upper resistance level with stability. Analysts also predict that by the middle of 2023, the price of XRP would rise to $1. The price of XRP has risen 34.31% in the past month and 0.04% over the past week. Technical indicators suggest the downtrend momentum of XRP price.
Technical Levels-
Resistance level- $0.52 and $0.549
Support level- $0.50 and $0.4855
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
