The post XRP Price Prediction As Buyers Edge Closer to a 16% Jump appeared on BitcoinEthereumNews.com.

XRP Price Prediction: A bullish breakout from $0.55 resistance would bolster XRP price to escape the consolidation trap Published 7 hours ago XRP Price Prediction: Amid the broader market recovery, the XRP price continues its upward trajectory and has reached the current trading price of $0.53. Over the last four days, the coin has climbed from a low of $0.477, marking an 11% surge. However, the key resistance level at $0.55 looms ahead—a barrier that has stifled buyers’ attempts at a more significant recovery over the past couple of months. So, will this attempt to breach the $0.55 level be successful? Also Read: John Deaton Weighs On US SEC’s Possible Appeal And Rationale In XRP Lawsuit Will XRP Face Another Correction? The $0.55 resistance breakout will set the coin price for a 16% jump A potential golden crossover between the 50-and-200-day EMA slope would increase buying pressure in the market. The intraday trading volume in the XRP is $1.2 Billion, indicating a 108% gain. Source: Tradingview The short-term trend in the XRP coin price is sideways as the coin price has traded majorly between the $0.55 and $0.458 horizontal levels in the last two months. Despite showing significant price swings in the daily chart, the traders make no progress in either direction, indicating indecisive market sentiment.  Amid this sideways movement, XRP price has been grappling with two significant chart levels: the aforementioned $0.55 resistance and a longstanding support trendline. With today’s intraday gain of 1.845%, the coin price is inching closer to another test of the $0.55 barrier.  A successful breach here would provide a strong foundation for extending the current rally. However, traders should look for a daily candle close above this level before committing funds. Following a successful breakout, this altcoin could target the $0.60 level, accounting for…

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Filed under: News - @ October 24, 2023 12:20 am