Forecast for XRP on September 7
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Despite attempts, bulls have not secured control in the initial hours of the weekend, as reported by CoinStats.
XRP/USD
Since yesterday, XRP’s value has risen by 0.5%.
In the hourly timeframe, XRP’s price remains above the local resistance of $0.5307. Should this hold until day’s end, we may anticipate a further uptrend.
Examining the larger picture, prices are currently not pressing against significant levels. Therefore, even with a bullish close, buyers lack the momentum for a sustained bullish rally, indicating potential range-bound trading within the limits of $0.52-$0.55.
From a midterm perspective, the market shows a balance between buyers and sellers, signaling unlikely rapid movements soon. Consequently, the market might witness consolidation in the $0.50-$0.60 range in the upcoming days.
At the time of this report, XRP is valued at $0.5321.
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