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Coins have returned to the red zone, according to CoinStats.
XRP/USD
The price of XRP has dropped by 1.4% since yesterday.
On the hourly chart, the rate of XRP has made a false breakout of the local support level of $0.5924. If the daily bar closes far from it, traders may expect a test of the resisance of $0.6010 soon.
On the bigger time frame, neither bulls nor bears are dominating. If buyers want to seize the initiative, they need to restore the price of XRP to at least the $0.61 area.
Denys SerhiichukIn that case, there might be a chance for a continued upward move to the $0.62-$0.64 range.
From the midterm point of view, sideways trading remains the more likely scenario. In this regard, ongoing consolidation in the wide zone of $0.55-$0.65 is the more likely scenario.
XRP is trading at $0.5932 at press time.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Tomiwabold Olajide
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