XRP have been running in the range (0.2994 to 0.7505) from July 13, 2022 till now. The highest price was 0.9647 on July 10, 2023, and then fell back to the range in an instant (see Figure 1).

This is a long time for investors to wait, and it is neither good nor bad for traders. It is bad for traders because the small fluctuations mean no big profits; it is good for traders because it follows a pattern in two years, and it is easy to find a kind pattern to trade.

In any case, this article analyzes the history of XRP and then gives my personal speculation on XRP.

First, let's look at the medium- and long-term situation of XRP (see Figure 2):

The current price of XRP is 0.5050

The overall trend of XRP in the future could be an upward trend. It is conservatively estimated that the price of XRP may achieve a 4X increase, and it is very likely to exceed 2 US dollars.

This marathon process may take 26 weeks, which is about half a year.

The current movement trajectory of XRP is to retrace the trend line downward, and then completely reverse the trend after meeting this key price, and change to an upward trend.

The key price is in the range of about 0.4504 and 0.4264.

If you trade XRP frequently, you should mark this price and observe it more.

Finally, take a look at the short-term trading direction (see Figure 3, 1-hour chart).

Currently, XRP is in a downward range. The price trajectory it may follow is marked with pink and blue routes respectively:

If it chooses the pink route: it will go to around 0.4914 and then rise to around 0.5104

If it chooses the blue route: it will rise from the current 0.5050 to around 0.5104, and then turn down.

There is also a third possibility that the price falls out of the range and arrives at the retracement point I just mentioned, around 0.45.

Then 0.5104 is a relatively stubborn resistance price in the current range. You can draw it to assist your trading.

I hope my analysis of XRP is helpful to your own analysis.

Happy trading

Subscribe my free weekly crypto analysis here.

Subscribe

0 comments

ENA Analysis Update Episode Nov.02

SUI Analysis Update Episode Oct.13

BTC Analysis Updates Episode Oct.13th

BTC Analysis Updates Episode 11th Oct. 2024

How to choosing the Right Asset to invest or trade? (compare stock, forex, energy, bonds and crypto)

See all posts from Yuvest