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The long tail on XRP’s Aug. 31 candlestick shows that the bulls are trying to protect the support at $0.50. However, the price action on Sep. 1 shows that the bears are keeping up the pressure. If the price plunges below $0.50, it will suggest that bears are back in control. That could start a downward move to the formidable support at $0.41. The bulls are likely to defend this level with vigor. A bounce off the support could keep the XRP/USDT pair range-bound between $0.41 and $0.56 for some more time. If the price rebounds off $0.50, it will suggest that the pair may attempt a rally to $0.56. The bulls will have to overcome this roadblock to start a new up move to $0.63 and thereafter to $0.73.

<div><span style="font-size: 15px;">The long tail on XRP’s Aug. 31 candlestick shows that the bulls are trying to protect the support at $0.50. However, the price action on Sep. 1 shows that the bears are keeping up the pressure.</span><br></div><div><span style="font-size: 15px;">If the price plunges below $0.50, it will suggest that bears are back in control. That could start a downward move to the formidable support at $0.41. The bulls are likely to defend this level with vigor. A bounce off the support could keep the XRP/USDT pair range-bound between $0.41 and $0.56 for some more time.</span><br></div><div><span style="font-size: 15px;"><br></span></div><div><span style="font-size: 15px;">If the price rebounds off $0.50, it will suggest that the pair may attempt a rally to $0.56. The bulls will have to overcome this roadblock to start a new up move to $0.63 and thereafter to $0.73.</span><img src="https://d1x7dwosqaosdj.cloudfront.net/images/2023-09-02/8999bdcd3720bdcfca6f126a3e85dd01.png" alt="1693667897695.png" style="width: 100%; height: auto; margin-top: 10px; margin-bottom: 10px;"></div><br>

XRP price analysis

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edge soared to 1.2742 USDT, a new high with a 24-hour increase of 13.45%. It currently trades at 1.1689 USDT on HTX.

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