May 27 has started in a relatively positive price mood as some altcoins have come back to the green zone. Today's top gainer is XRP. The rate of the coin has risen by 0.74% over the past day.
As most of the coins are trading in a sideways trend, the total cryptocurrency capitalization mark has remained almost unchanged. The current index is $246 Bln.
The relevant data for XRP is as follows.
Market Cap: $8 624 797 097
Volume (24h): $1 546 826 083
Change (24h): 0.88%
This data is relevant at press time.
XRP/USD: How fast can XRP return to top 3?
While Bitcoin (BTC) and most of the altcoins are trading sideways, XRP is not losing any chances, rising by 0.74% since yesterday. However, the coin has lost more than 4% over the past week.
On the hourly chart, XRP is looking quite positive. The coin is slowly approaching the local resistance level at $0.1960. What is more, its trading volume has remained at the same level which means that sellers are not going to dump the rate from its current zone. If a sideways trend among most of the coins continues, XRP might reach $0.1960 by the end of the day.
According to the 4H time frame, neither bulls nor bears have seized the initiative, from a short-term perspective. The buying trading volume is higher than the average as well as the liquidity level.
In this case, the most likely outcome is a consolidation in the yellow range between $0.1950 and $0.1980 by the end of the month.
On the daily chart, bearish sentiments have appeared. Trading volume is not declining. However, buyers are not showing a willingness to buy. Also, we might see a big Triangle pattern form with an endpoint at $0.18. If the decline continues, traders can expect to reach this support in the first part of June 2020.
XRP is trading at $0.1954 at press time.