XRP Price Prediction for May 12


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The cryptocurrency market is facing a bounce back at the end of the week, according to CoinStats.

XRP chart by CoinStats

The price of XRP has almost not changed since yesterday.

Image by TradingView

On the hourly time frame, the rate of XRP has once again touched the support of $0.5032. In case of a breakout, there is a chance to see a test of the $0.5020 zone soon.

Image by TradingView

On the daily chart, the price has made a false breakout of yesterday’s candle peak. If the bar closes near its low, traders may witness an ongoing drop to $0.50 next week.

Image by TradingView

From the midterm point of view, buyers have failed to maintain the rise after the previous bullish bar.

In this regard, a test of the nearest support level of $0.4780 is likely to occur.

XRP is trading at $0.5033 at press time.

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Denys Serhiichuk

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