<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Buyers are still weak, according to <a href="https://u.today/shib-price-prediction-for-may-7" rel="noopener noreferrer nofollow">CoinMarketCap</a>. <img data-entity-type="file" data-entity-uuid="38669bbb-071c-4d1f-ab05-36eb449c522e" src="https://u.today/sites/default/files/inline-images/top10_1102.png">Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a>
<h2 class="text-align-justify" id="xrp-usd">XRP/USD</h2>
The price of XRP has declined by 2.18% over the last 24 hours. <img data-entity-type="file" data-entity-uuid="6aef9cf2-7850-4beb-9de9-13ecc2ed81ee" src="https://u.today/sites/default/files/inline-images/xrp1_152.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/XRPUSDT" rel="noopener noreferrer nofollow">TradingView</a>
Despite today's fall, the rate of XRP is looking bullish as it is near the local resistance level of $0.5280. If it breaks out, there is a chance to see a test of $0.53. <img data-entity-type="file" data-entity-uuid="c42cd2a1-006d-4a05-875c-8d8fcd8ec740" src="https://u.today/sites/default/files/inline-images/xrp2_146.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/XRPUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger chart, neither bulls nor bears are dominating as the price is far from the key levels. Furthermore, the candle is about to close far from its peak or low.&nbsp;
In this case, sideways trading in the zone of $0.52-$0.53 is the more likely scenario. <img data-entity-type="file" data-entity-uuid="36fa5430-a252-402f-bd75-6c064670b208" src="https://u.today/sites/default/files/inline-images/xrp3_141.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/XRPUSDT" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, one should pay attention to the weekly bar's closure. If it happens near $0.55, traders may expect a local bounce back.
XRP is trading at $0.5252 at press time.

XRP Price Prediction for May 8

Table of Contents

U_Today

Other articles published on May 8, 2024

P2P Exchange LocalMonero Shuts Down Amid Ongoing Crackdown

Public blockchain ledgers ‘not fit for purpose,’ says JPMorgan exec

Elon Musk Unveils Essential Grok AI Update Impacting Cryptocurrency X (Symbol)

Bitcoin ready to bounce back? Analysis from 08 May 2024

Is It Too Late To Buy MODE? Mode Price Skyrockets 4,705% As Experts Say This Casino Token Might B...

When is full recovery not a full recovery? FTX

Join our free newsletter for daily crypto updates!