XRP Price Analysis 24-05-2023

Above $0.45, XRP has broken out in a bullish pattern, perhaps signaling the start of an uptrend that may take the cryptocurrency all the way to $0.55. Medium-term trend is neutral; short- and long-term trends are up.

With a bullish MACD line and a neutral RSI reading, momentum is unclear. The area between $0.40 and $0.32 is the closest we can say is a support zone. With a break over $0.45, the next Resistance Zones are at $0.55 and $0.60.

The XRP price is predicted to drop significantly. According to Elliott wave theory, the price of XRP will drop to as low as $0.34 before staging a strong recovery that might take it beyond $0.6.