XRP Price Prediction for May 1

The situation is almost unchanged since yesterday as most of the coins are in the red zone, according to CoinMarketCap.

XRP/USD

The rate of XRP has fallen by 0.62% over the last 24 hours.

On the hourly chart, the price of XRP might have set a local support level of $0.4780. If the daily bar closes near $0.50 or above it, there is a chance to see a resistance breakout, followed by a move to the $0.51 zone.

On the bigger time frame, one should pay attention to the candle’s closure in terms of yesterday’s bar’s low.

If it happens far from it, bulls may seize the initiative, which can lead to growth to the $0.50-$0.52 zone by the end of the week.

From the midterm point of view, it is too early to make any predictions as the rate is far from the main levels. In this case, ongoing sideways trading in the range of $0.46-$0.54 is the more likely scenario until mid-May.

XRP is trading at $0.4966 at press time.

Source