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The weekend has started with a market correction as most of the coins are in the red zone.
XRP/USD
The rate of XRP has gone down by 1.21% since yesterday.
On the hourly chart, the price of XRP is in the middle of the local channel. At the moment, neither buyers nor sellers are dominating. However, if the rate returns to $0.55, the growth may continue to the $0.556 zone tomorrow.
On the daily time frame, the rate of XRP is more bearish than bullish as the price is about to return to the recently tested support level of $0.536.
If that happens, there is a high chance of a breakout followed by a continued correction to the $0.53 area.
From the midterm point of view, the candle might close below the level of $0.5491. In this case, traders are unlikely to see an upward move next week. Meanwhile, bears might seize the initiative, which can lead to a drop to the $0.53-$0.53 range.
XRP is trading at $0.5460 at press time.
Alex Dovbnya
Arman Shirinyan
