Category: Crypto News, News

XRP Price Prediction for May 16

By │Published On: May 17, 2024│1.2 min read│Views: 237│0 Comments on XRP Price Prediction for May 16│


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Some coins are trying to get back to the green zone, according to CoinStats.

XRP chart by CoinStats

XRP/USD

The price of XRP has increased by 1.13% over the last day.

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Image by TradingView
On the hourly chart, the rate of XRP is still under sellers’ pressure, as it is closer to the support than to the resistance level. In this case, there is still a chance to see a breakout, followed by a move to the $0.51 area.

Image by TradingView
On the bigger time frame, none of the sides is dominating after yesterday’s bullish candle closure. 

Respectively, ongoing sideways trading in the zone of $0.51-$0.52 is the more likely scenario until the end of the week.

Image by TradingView
On the weekly chart, the picture is quite similar. If the bar closes around the current prices, traders may witness a consolidation between $0.50 and $0.54 by the end of May.

XRP is trading at $0.5190 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.

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