XRP Stuck in a Price Battle: $0.63 Resistance Holds Strong

Ripple’s price has been caught in a tug-of-war between buyers and sellers. After a strong rally, XRP hit a roadblock at $0.63, a key resistance level that has proven difficult to break through.

XRP Price Analysis

Daily Chart

Looking at the daily chart, we can see that XRP surged after finding support around $0.43. However, it faced stiff opposition at the $0.63 level, which has acted as a stubborn barrier. This has led to a price pullback towards the $0.55 support area. Right now, XRP is stuck between these two levels, and we can expect some sideways movement before a clear direction emerges. If XRP can break through $0.63, the next target could be $0.71. On the other hand, if the price falls below $0.55, it could drop to $0.48.

4-Hour Chart

Zooming in on the 4-hour chart, we see a similar picture. XRP’s upward move was halted at $0.63, and the price has retreated towards the $0.55 support area. This level seems to be holding strong, but there’s a battle going on between buyers and sellers. If buyers can push the price back above $0.63, XRP could see another rally. But if sellers maintain control, the price could drop to the $0.52 or $0.48 levels.

What’s Next for XRP?

The short-term outlook for XRP is uncertain. The price is stuck in a range between $0.63 and $0.55. A breakout in either direction will likely determine the next move. Traders should watch for signs of strength or weakness to anticipate the next price movement.