XRP Price Prediction for October 5

10/05/2024 21:36
XRP Price Prediction for October 5

Has long-term drop of XRP ended yet?

Original U.Today article

XRP Price Prediction for October 5

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Most of the coins remain in the green zone today, according to CoinStats.

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XRP chart by CoinStats

XRP/USD

The rate of XRP has risen by 0.86% since yesterday.

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Image by TradingView

Despite today's rise, the price of XRP is looking bearish on the hourly chart. If the fall continues, traders may witness a test of the local support of $0.5276.

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Image by TradingView

On the bigger time frame, the rate of the altcoin is trading within yesterday's candle. If the situation does not change by the end of the day, ongoing consolidation in the narrow range of $0.52-$0.54 is the more likely scenario.

Article image
Image by TradingView

From the midterm point of view, one should pay attention to the weekly bar closure in terms of the support level of $0.5026. If a breakout happens, the accumulated energy might be enough for a move to the $0.45 zone.

XRP is trading at $0.5303 at press time.

About the author

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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 [email protected].

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