Forecast for XRP's Value on August 24th
In the world of cryptocurrency, XRP has seen a minor surge in its value, with the digital coin currently trading at $3.0160. This slight increase has sparked speculation that the price could potentially reach the $3.30 mark, marking a significant boost for investors.
However, the midterm outlook for XRP remains unclear. The coin has been trading within the range of $3 to $3.30, with neither bulls nor bears holding a firm grip on the market. This sideways trading is the more likely scenario for XRP in the coming weeks, according to analysts.
If a bounce back does not occur by the end of the day, a level breakout for XRP could be on the horizon. On the hourly chart, the price of XRP is near the local support of $3.0029, indicating a potential point of resistance. After a level breakout, a further correction to the $2.98 area for XRP is possible.
Looking at the bigger picture, the nearest level for XRP is $3.1427. Over the last week, the price of XRP has fallen by 3.38%, suggesting a downward trend. This decline is in contrast to the forecast made by crypto analysts for August 2022, who predicted the price to be around $2.87 at the end of the summer.
It's important to note that the rate of change for Binance Coin (BNB) is not mentioned in this update, along with its levels and time frame. As always, it's crucial for investors to stay informed and make decisions based on thorough research and analysis.
