The satoshi street traded in the red over the last 24 hours. The flagship currency, Bitcoin lost 3.52%, while Ethereum and Cardano Price declined by 5.4% and 3%. Meanwhile, the major altcoin followed the top 3 crypto, with a 4-6% loss.
The XRP price weakness is also in line with the ongoing weak performance of the crypto market. The altcoin is in a tight range as investors reflect on the ongoing sell-off.
XRP Price Analysis
Indicating mild volatility over the last 24 hours. The Altcoin price traded within $0.9211 – $0.969. Trading volume has declined by 11.95% and hitting $2.7 billion, while the total market cap trades around $43.3 billion, ranking the coin in 6th place overall.
XRP is yet to break out from a bullish pattern. After failing to hold the major crucial level for recovery altcoin entered the consolidation phase. If XRP/USD closes the daily candle above $1.052, we can expect a massive uptrend.
However, despite this rally, the XRP price needs to clear $1.192 and $1.326 levels to reach the higher highs. This move could potentially trigger the buying pressure, starting a buying spree and pushing the remittance token to $1.67. XRP/USD needs to clear the resistance of $1.12 to target $1.8 and $1.58 levels.
On the flip side, if the XRP price fails to hold above $0.924, the price may drop down to $0.816. If the 100 DMA fails to defend the $0.88 zone, the altcoin could retrace to support levels of $0.78 and $0.54 respectively.
Will XRP Price $2.54 in Q4?
The trader known in the industry as Credible tells his 243,400 Twitter followers that the digital currency XRP looks ready to move higher against Bitcoin (XRP/BTC).
The crypto analyst shares the inverse chart of XRP/BTC, which indicates the trading pair is poised to rally to 0.000055 BTC that is $2.54. This move depicts an upside swing of nearly 160% from its current value of 0.000021 BTC ($0.89).
Overall, XRP Price appears to be bullish as a base from which to move higher has been established over the past few days. Thus, we can expect XRP/USD to break higher and finally set a higher high over the next few days.