XRP Price Prediction: What to Expect in the Next 48 Hours By CoinEdition
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XRP Price Prediction: What to Expect in the Next 48 Hours- XRP’s 24-hour gain of 5.24% has flipped its negative weekly performance into the green.
- The remittance token’s price was able to break through two key resistance levels.
- Traders will want to keep an eye on the price level at $0.3992.
is a technology that acts as both a cryptocurrency and a digital payment network for financial transactions. It was first released in 2012 and was co-founded by Chris Larsen and Jed McCaleb.
Ripple’s main process is a payment settlement asset exchange and remittance system, similar to the SWIFT system for international money and security transfers, which is used by banks and financial middlemen dealing across currencies.
The token used for the cryptocurrency is premined and utilizes the ticker symbol XRP. Ripple is the name of the company and the network, and XRP is the cryptocurrency token. The purpose of XRP is to serve as an intermediate mechanism of exchange between two currencies or networks – as a sort of temporary settlement layer.
XRP Current Market Standing
XRP (XRP) is ranked as the sixth biggest crypto by market cap, according to CoinMarketCap. It experienced a 5.24% increase in price in the last 24 hours taking it up to $0.4007. This also puts its total market cap at approximately $20.35 billion at press time.
The 24-hour increase in XRP’s price has flipped its negative weekly performance. As a result, XRP’s weekly price performance currently stands at +2.07%.
XRP Technical Overview
4-hour chart for XRP/USDT (Source: TradingView)
The price of XRP has retraced slightly after yesterday’s price pump which resulted in the remittance token’s price breaking above the key resistance levels at $0.3884 and $0.3992. As a result, the price of XRP is lingering above the recently-flipped price level at $0.3992 at press time.
The RSI indicator on XRP’s 4-hour chart suggests that XRP’s upward move has reached a peak given that the RSI line has formed a top and is now sloped negatively towards oversold territory. This could suggest that XRP’s price will drop in the next 12-24 hours as traders begin to take profit.
However, momentum is still in favor of XRP bulls as the 9 EMA line on XRP’s 4-hour chart remains positioned above the 20 EMA line on XRP’s 4-hour chart at press time.
One thing that traders may want to keep an eye on is whether or not XRP’s price drops below $0.3992 in today’s trading session. Should this happen, XRP’s price will drop to the 9 EMA line level at around $0.3935.
Daily chart for XRP/USDT (Source: TradingView)
A significant short-term bullish flag may trigger on the daily chart for XRP in the coming 24-48 hours as the 9-day EMA line is looking to cross above the 20-day EMA line. Should this happen, XRP’s price will likely rise to the next resistance level at $0.4126. If bulls step in during this move then XRP’s price will successfully break above the level as well.
However, the daily RSI indicator, similar to the RSI indicator on XRP’s 4-hour chart, suggests that XRP’s upward price move has reached a peak as the RSI line levels off in neutral territory.
Given that XRP’s price has already dropped below the price level at $0.3992 in today’s trading session. Bulls were able to elevate XRP’s price back above the level but bears have not given up yet.
If XRP’s price breaks below this level again in today’s trading session then traders and investors may panic sell, causing the price of XRP to drop to the next support level at $0.3884 in the next 24-48 hours.
The steep ascent in XRP’s price over the last 24 hours may also inevitably result in a just as rapid descent in XRP’s price in the days that follow given that we are not out of a bear market just yet.
On the other hand, the bearish thesis will be temporarily invalidated if the 9-day EMA line is able to cross bullishly above the 20-day EMA line in the next 24-48 hours.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
The post XRP Price Prediction: What to Expect in the Next 48 Hours appeared first on Coin Edition.
See original on CoinEdition
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XRP Price Prediction: What to Expect in the Next 48 Hours- XRP’s 24-hour gain of 5.24% has flipped its negative weekly performance into the green.
- The remittance token’s price was able to break through two key resistance levels.
- Traders will want to keep an eye on the price level at $0.3992.
is a technology that acts as both a cryptocurrency and a digital payment network for financial transactions. It was first released in 2012 and was co-founded by Chris Larsen and Jed McCaleb.
Ripple’s main process is a payment settlement asset exchange and remittance system, similar to the SWIFT system for international money and security transfers, which is used by banks and financial middlemen dealing across currencies.
The token used for the cryptocurrency is premined and utilizes the ticker symbol XRP. Ripple is the name of the company and the network, and XRP is the cryptocurrency token. The purpose of XRP is to serve as an intermediate mechanism of exchange between two currencies or networks – as a sort of temporary settlement layer.
XRP Current Market Standing
XRP (XRP) is ranked as the sixth biggest crypto by market cap, according to CoinMarketCap. It experienced a 5.24% increase in price in the last 24 hours taking it up to $0.4007. This also puts its total market cap at approximately $20.35 billion at press time.
The 24-hour increase in XRP’s price has flipped its negative weekly performance. As a result, XRP’s weekly price performance currently stands at +2.07%.
XRP Technical Overview
4-hour chart for XRP/USDT (Source: TradingView)
The price of XRP has retraced slightly after yesterday’s price pump which resulted in the remittance token’s price breaking above the key resistance levels at $0.3884 and $0.3992. As a result, the price of XRP is lingering above the recently-flipped price level at $0.3992 at press time.
The RSI indicator on XRP’s 4-hour chart suggests that XRP’s upward move has reached a peak given that the RSI line has formed a top and is now sloped negatively towards oversold territory. This could suggest that XRP’s price will drop in the next 12-24 hours as traders begin to take profit.
However, momentum is still in favor of XRP bulls as the 9 EMA line on XRP’s 4-hour chart remains positioned above the 20 EMA line on XRP’s 4-hour chart at press time.
One thing that traders may want to keep an eye on is whether or not XRP’s price drops below $0.3992 in today’s trading session. Should this happen, XRP’s price will drop to the 9 EMA line level at around $0.3935.
Daily chart for XRP/USDT (Source: TradingView)
A significant short-term bullish flag may trigger on the daily chart for XRP in the coming 24-48 hours as the 9-day EMA line is looking to cross above the 20-day EMA line. Should this happen, XRP’s price will likely rise to the next resistance level at $0.4126. If bulls step in during this move then XRP’s price will successfully break above the level as well.
However, the daily RSI indicator, similar to the RSI indicator on XRP’s 4-hour chart, suggests that XRP’s upward price move has reached a peak as the RSI line levels off in neutral territory.
Given that XRP’s price has already dropped below the price level at $0.3992 in today’s trading session. Bulls were able to elevate XRP’s price back above the level but bears have not given up yet.
If XRP’s price breaks below this level again in today’s trading session then traders and investors may panic sell, causing the price of XRP to drop to the next support level at $0.3884 in the next 24-48 hours.
The steep ascent in XRP’s price over the last 24 hours may also inevitably result in a just as rapid descent in XRP’s price in the days that follow given that we are not out of a bear market just yet.
On the other hand, the bearish thesis will be temporarily invalidated if the 9-day EMA line is able to cross bullishly above the 20-day EMA line in the next 24-48 hours.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
The post XRP Price Prediction: What to Expect in the Next 48 Hours appeared first on Coin Edition.
See original on CoinEdition
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