24 July XRPUSD Price Technical Forecast: Ripple eyes $0.4600


XRPUSD is trading at $0.4570, having retraced from the intraday high reached at $0.4600. What is next? The following 24 July XRPUSD Price Technical Forecast reveals.

24 July, GKFX – Ripple’s coin has recovered from early Asian low at $0.4370 following the lead of Bitcoin, which has catapulted to $8,000.

While the upside momentum is not strong enough, a sustainable break above $0.4600 might support the nascent rally. 

XRP’s market value is registered at $17.8B with the average daily trading volume $231M from $169M on Monday. 

Weiss Ratings Survey

Meanwhile, Ripple is recognized as the preferred cryptocurrency for moving digital assets between cryptocurrency exchanges, Weiss Ratings report shows.

The company conducted a survey in Twitter asking the subscribers to choose the best coin for moving funds between exchanges. 78% voted for XRP. the second place goes to Ethereum (8%).

24 July XRPUSD Price Technical Forecast

From the technical point of view, XRPUSD stays above both 100 and 50-SMA (1-hour chart) at $0.4523; fresh buying interest spotted around this area, keeps XRP’s short-term bears at bay; however, if this area is cleared, the downside may be extended towards $0.4500 and $0.4290 (Friday’s low).

On the upside, the local resistance comes at $0.4600 (early Asian high), followed by $0.4677 (200-SMA) and $0,4800. 

XRPUSD, 1-hour chart

Disclaimer

This article 24 July XRPUSD Price Technical Forecast was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

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