XRP Price Prediction for July 10

The price of XRP has remained stable, showing potential for a breakout depending on market movements.

Points

• XRP is nearing local support at $0.4320.
• Current sideways trading suggests a narrow range between $0.43-$0.44.
• Midterm outlook remains bearish with potential further correction to $0.40 and below.

XRP/USD

The price of XRP has shown stability, maintaining its position near the local support level of $0.4320. On the hourly chart, if the daily bar closes near this level, it might accumulate enough energy for a breakout towards the $0.43 zone.

Technical Position

Today’s move has not significantly impacted the technical position of XRP on the daily time frame. The falling volume indicates that neither buyers nor sellers are prepared for a sharp move, suggesting ongoing sideways trading within the narrow range of $0.43-$0.44.

Midterm Outlook

From a midterm perspective, XRP’s outlook remains bearish as the price continues to trade below the $0.46 zone. This scenario keeps the possibility of a further correction to the $0.40 level and potentially lower.

XRP is trading at $0.4355 at press time.

Explanation

• Support Level: XRP is close to its local support at $0.4320, suggesting potential for a breakout if it holds this level.
• Sideways Trading: The ongoing narrow range of $0.43-$0.44 indicates a period of consolidation with no immediate sharp moves.
• Bearish Midterm: The continued trading below $0.46 suggests a bearish trend with the possibility of further declines to $0.40 or below.