XRP Price Analysis for May 20

Bears are giving no chances to bulls, according to CoinMarketCap’s ranking.

Top coins by CoinMarketCap

XRP/USD

XRP is an exception, rising by 0.55% over the last 24 hours.

Image by TradingView

On the hourly chart, XRP is trading near the recently formed resistance at $0.4684. Currently, traders should focus on that mark. If the closure occurs around it, the growth may continue to the $0.47 zone and above.

Image by TradingView

On the daily chart, the picture is also more bullish than bearish as the rate keeps slowly rising. The volume is also high, which means that buyers might seize the initiative. If the growth continues to the $0.48 mark, the accumulated energy may be enough for a resistance breakout.

Image by TradingView

The weekly candle is about to close above the previous peak at $0.4101. Besides that, the closure may happen near the resistance, which means that there is a high possibility to see a further upward move by the end of the month.

XRP is trading at $0.4669 at press time.

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