XRP Prediction for September 5

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Buyers could not hold today's rise until the end of the day, and most coins have returned to the red zone, according to CoinStats.

XRP chart by CoinStats

XRP/USD

The price of XRP has gone down by 1.55% since yesterday.

Image by TradingView

On the hourly chart, the rate of XRP is trading near the local support of $0.5485. 

If buyers cannot seize the initiative until the end of the day, one can expect a breakout, followed by a move to the $0.54 zone.

Image by TradingView

On the bigger time frame, the picture is also bearish. If the daily bar closes near the support level of $0.5434, the accumulated energy might be enough for a dump to the $0.51-$0.52 range.

Image by TradingView

On the weekly chart, none of the sides has seized the initiative yet. If the situation remains the same, ongoing sideways trading in the area of $0.52-$0.60 is the more likely scenario.

XRP is trading at $0.5488 at press time.