XRP Price Prediction for May 31

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U.Today
05-31

Most of the coins are going down on the first day of the weekend, according to CoinMarketCap.

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Top coins by CoinMarketCap

XRP/USD

On the hourly chart, the rate of XRP has fallen by 1.93% over the last day.

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Image by TradingView

The price of XRP is near the local resistance of $2.1533. If bulls can hold the gained initiative and the daily bar closes above that mark, one can expect an ongoing upward move to the $2.20 zone.

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Image by TradingView

On the bigger time frame, the rate of XRP has bounced off the support of $2.077.

If the candle closes far from that mark, traders may witness a local correction to the $2.20-$2.25 range.

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Image by TradingView

From the midterm point of view, the price is falling after a false breakout of the resistance of $2.59. If nothing changes, one can expect an ongoing downward move to the vital $2 zone.

XRP is trading at $2.1608 at press time.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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