XRP/USD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

• XRP is priced at $0.521745 with a trading volume of $1,609,517,823 in the past 24 hours.
• It holds the sixth position on CoinMarketCap with a market cap of $27,123,960,742.
• Technical analysis shows a slight bullish bias as XRP bounces off the support at $0.5108.

The current price of XRP is $0.521745 with a 24-hour trading volume of $1,609,517,823. Over the past 24 hours, XRP has decreased by 1.53%.

It holds the sixth position on CoinMarketCap with a live market cap of $27,123,960,742. There are 51,987,017,573 XRP coins in circulation out of a maximum supply of 100,000,000,000 XRP coins.

Technically, Ripple (XRP) shows a slight bullish bias after bouncing off the support zone around $0.5108. On the four-hour chart, a doji candle followed by a hammer candlestick pattern suggests weakening selling pressure and potential dominance by buyers.

The presence of an uptrend line indicates increased bullish strength. However, the Relative Strength Index (RSI) hovers around the 50 level, signaling a neutral stance.

The Moving Average Convergence Divergence (MACD) forms histograms around the middle line, reflecting a balance between buying and selling pressures.

Resistance is seen at $0.5345, and a breakout could generate higher demand and propel XRP towards the target level of $0.5478.

Possibilities include a breakout above $0.5478, which could drive XRP towards $0.5595 or higher. Conversely, if XRP breaks below the support level at $0.5108, it may target subsequent supports at $0.5000 and $0.4895.

XRP/USD Price Chart – Source: Tradingview

XRP/USD – Trade Idea

Entry Price – Buy Above 0.51040

Stop Loss – 0.49490

Take Profit – 0.53411

Risk to Reward – 1: 1.27

Profit & Loss Per Standard Lot = +$22/ -$14