XRP Price Prediction for May 12

12 May 2024

in XRP

Reading Time: 2 mins read

Read U.TODAY on

Google News

The cryptocurrency market is facing a bounce back at the end of the week, according to CoinStats.

XRP chart by CoinStats

XRP/USD

The price of XRP has almost not changed since yesterday.

Image by TradingView

On the hourly time frame, the rate of XRP has once again touched the support of $0.5032. In case of a breakout, there is a chance to see a test of the $0.5020 zone soon.

Image by TradingView

On the daily chart, the price has made a false breakout of yesterday’s candle peak. If the bar closes near its low, traders may witness an ongoing drop to $0.50 next week.

Image by TradingView

From the midterm point of view, buyers have failed to maintain the rise after the previous bullish bar.

In this regard, a test of the nearest support level of $0.4780 is likely to occur.

XRP is trading at $0.5033 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.

Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.