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Bulls are trying to hold the gained initiative after a market drop, according to CoinMarketCap.
XRP/USD
Unlike most other cryptocurrencies, the rate of XRP has fallen by 0.40% since yesterday.
However, on the hourly chart, the price of XRP is looking bullish as it is trying to break the resistance of $0.5789. If it happens, the growth is likely to continue to the $0.5850 zone soon.
On the bigger time frame, the rate of XRP has made a false breakout of yesterday's bar low at $0.5669. If the candle closes far from that mark, there is a chance to see a test of the $0.60-$0.62 area by the end of the week.
From the midterm point of view, none of the sides is dominating at the moment, as the rate is in middle of a wide channel, between the support of $0.4590 and the resistance of $0.7329.
Denys SerhiichukIn this case, ongoing sideways trading in the zone of $0.55-$0.65 is the more likely scenario.
XRP is trading at $0.5928 at press time.
Alex Dovbnya
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team