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The week has started with sellers' pressure, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
XRP/USD
XRP has followed the drop of Bitcoin (BTC), going down by 1.15%.
Image by TradingView
Despite today's fall, bulls are not going to seize the initiative as the price is slightly approaching the local support level at $0.4561. If the closure happens near this mark, the drop may continue to the $0.45 zone.
Image by TradingView
On the bigger time frame, the situation is also rather more bearish than bullish as the price has made a false breakout of the resistance level at $0.4824.
If the bar closes with no long wicks, the decline may lead to the test of the support at $0.4428. Such a scenario is relevant until the end of the following week.
Image by TradingView
The price of XRP is trading sideways on the daily chart against BTC as the rate is far from key levels. However, if the decline to the 0.00001650 mark continues, the accumulated power may be enough for a breakout, followed by a drop to the 0.000015 zone.
XRP is trading at $0.46017 at press time.
Valeria Blokhina
Tomiwabold Olajide
