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XRP Price Prediction for May 31

Fri, 31/05/2024 – 14:40

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Buyers are still unable to seize the initiative, according to CoinMarketCap.

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XRP/USD

The price of XRP has declined by 0.64% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of XRP has broken the local support level of $0.5165. The volume has increased, which means there is a good chance to expect a more profound decrease. 

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In this case, traders may witness a test of the $0.51 zone on the weekend.

Image by TradingView

On the daily time frame, the price is its the way to the support level of $0.5064. If the bar closes below that mark, the accumulated strength might be enough for a further drop to the $0.48-$0.49 area.

Image by TradingView

Bears are also more powerful than bulls on the weekly chart. Buyers could not keep the rise after the previous candle. If they lose the vital zone of $0.50, one can expect a test of the nearest support of $0.4309.

XRP is trading at $0.5162 at press time.

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