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- 1 XRP price prediction suggests the slippage of XRP crypto from the higher level.
- 2 XRP crypto has slipped below 20 and 50-EMA and is moving towards the 100 and 200-days DMA.
- 3 XRP price surged around 81.60% year to date.
The recent trading sessions have revealed a notable decline in the price of XRP, as indicated by XRP price prediction. Initially, the XRP cryptocurrency experienced a surge, reaching a peak of $0.93 on July 13th, but struggled to maintain that level.
Subsequently, there has been a consistent downward trend, prompting the need for XRP to draw in more buyers if it aims to sustain its current position or potentially reverse the ongoing fall. This situation calls for patience from XRP investors as they await any potential shifts in direction on the daily time frame chart.
XRP price was at $0.6166 and has lost 1.06% of its market capitalization during the day’s trading session. However, trading volume has increased by 13.26% during the intraday trading session. This demonstrates that buyers are trying to accumulate to push XRP price upwards. Volume to market cap ratio was 3.18%.
XRP Price Prediction: Technical Analysis
The prevailing XRP price prediction underscores a noticeable downtrend in the XRP cryptocurrency, originating from its previous higher levels, and this downward movement continues to be evident across various charts. Concurrently, there is a conspicuous observation regarding the trading volume, which currently registers below the established average. In order to foster a more favorable scenario for buyers, an expansion of trading volume is imperative.
It is worth noting that the XRP cryptocurrency has not only slipped beneath the 20-day and 50-day EMA, but it is also gradually progressing towards the 100-day and 200-day daily moving averages. This trend signifies a significant shift in its momentum and trajectory, further reinforcing the need for heightened attention from both traders and investors.
The XRP cryptocurrency has encountered a decline of roughly 12.74% over the course of a week, but has made noteworthy strides with a 31.16% increase within a month. Furthermore, the XRP price has experienced a remarkable surge of approximately 42.87% in the past three months, along with a significant upswing of 52.28% over the preceding six months. Notably, the XRP crypto has achieved a considerable advancement of 81.60% year-to-date, underscoring its substantial recovery throughout the year 2023.
Technical indicators suggest the downward velocity of XRP price. Relative strength index and moving average convergence divergence showcases the downward trend of XRP crypto price.
RSI was at 40 and is heading towards the oversold territory. The MACD line is below the signal line inside the negative one after a negative crossover. Investors in XRP cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
The most recent trading sessions have brought to light a significant decrease in the XRP price, as suggested by XRP price prediction. This circumstance emphasizes the need for patience among XRP investors as they anticipate possible changes in course on the daily time frame chart. The XRP cryptocurrency has made a noteworthy progress of 81.60% year-to-date, highlighting its substantial rebound over the course of 2023. Technical signals indicate the downward momentum of the XRP price.
Technical Levels
- Support Levels: $0.55 and $0.50
- Resistance Levels: $0.70 and $0.75
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 or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
