XRP Price Prediction Today: 24th June 

The post XRP Price Prediction Today: 24th June  appeared first on Coinpedia Fintech News

XRP climbed 14% over the past 24 hours to reclaim the $2 mark. The rally came after a ceasefire was announced to ease escalating geopolitical tensions.

The price surge followed a turbulent weekend driven by U.S. and Israeli military activity on Iran, making it a bearish June’s third week. With Monday’s advancement, a new week has begun for the XRP price.

XRP Price Prediction For Next 24 Hours 

MetricPrice (USD)Reason24H High$2.33Projected strong resistance level; target if bullish momentum continues.24H Low$2.08Key support zone; losing this may break short-term bullish structure.24H Average Price$2.20 – $2.23Estimated average based on recovery from $1.90 and current range movement.

XRP Price Dips to Monthly Low Amid Geopolitical Tensions

The 3-hour chart displays the impact of recent geopolitical events that briefly pushed the XRP price below the key multi-day psychological support zone. As a result, XRP price marked June month’s low at $1.90 from $2.33, eroding 18%.

However, the XRP crypto showed immediate recovery on June 23rd. 

When writing, the recovery from the “weak low” has pushed XRP price 14% higher to $2.18, with $5.15 billion 24-hour trading volume and $129.08 Billion market capitalization.

The short-term recovery has changed the short-term trend as it has broken the 20-day and 50-day EMA bands, and as a result, the short-term structure has attained a “Change of Character (ChoCh).”

The reason behind the rise was a short-term bullish conviction developed by the ceasefire news. This is also evident on-chain, as whale transaction count has increased, and exchange outflow has spiked.

This shows that investors have not panicked as much as they did in the last few months, which is evident in evaluating metrics like age consumed and network realized profit/loss.

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This indicates that a lot of buying on the dip happened, then panic selling, and it appears that the short-term rally is not over yet.

7% Move on the Horizon? Key Levels to Watch

There are higher odds that in the next 24 hours, the continued “break of structure (BoS)” could take XRP price towards the short-term trend’s “strong high” at $2.33, which is a critical resistance level for tomorrow. 

While $2.08 would support tomorrow’s price action, retesting this support would shatter short-term bullish conviction, but if it rises, then a 7% big move is likely in the next 24 hours.