XRP Price and Resistance Levels in September 2024

Market overview: recent XRP movements at the time
XRP fell 2% over 24 hours to $0.574, following a 3% decline in the crypto market after a strong weekend. It nevertheless retained gains of 8% over seven days and 1.5% over a month. Then the seventh-largest cryptocurrency by market capitalisation, it was up 15% year on year. The report viewed these modest gains as a foundation for potentially steadier growth in the following months.

Expected Fed rate cuts and XRP
The Fed was expected to make its first rate cut of the year that week, potentially supporting XRP. Markets widely anticipated a half-percentage-point cut, which the report suggested could further encourage bullish sentiment.

Technical analysis: key resistance and indicators
XRP's weekend rebound showed rising resistance, marked by a red line, which the report interpreted as a possible sign of near- and medium-term gains. Resistance was below $0.60. Although XRP failed to break it on Saturday, indicators after the pullback suggested another rise was possible.

Relative strength and trading volume
XRP's RSI rose from 25 that morning to above 45, indicating upward momentum. A 0.5% gain in the preceding hour supported confidence in crypto markets. Daily volume recovered to $1 billion from $750 million the previous evening, suggesting buyers were seeking discounts. Some whales were selling XRP, while others resumed accumulation.