XRP Price Analysis for June 11
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Buyers have seized the initiative on the last day of the week as the prices of the coins are in the green zone.
Top coins by CoinMarketCap
XRP/USD
XRP has joined the list of rising coins, going up by 3.46%.
Image by TradingView
On the hourly chart, the rate of XRP might have found local support at $0.5391. If buyers can hold the price above that mark, there is a chance to see an upward move to the resistance at $0.5118 tomorrow.
Image by TradingView
On the daily chart, the situation is neither bullish nor bearish as the rate has returned to the middle of the channel after a false breakout of the support at $0.4860.
In this case, ongoing consolidation in the narrow range of $0.50-$0.52 is the more likely scenario for the next few days.
Image by TradingView
From the midterm point of view, bulls are trying to stay in the game as the rate is about to close above the previous candle low at $0.4761. However, the price is still far from the resistance, which means that buyers might need more time to accumulate power for a further move.
XRP is trading at $0.5074 at press time.
