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Bulls could not hold the initiative for long, and the rates of most of the coins are falling again.
Top coins by CoinMarketCap
XRP/USD
The rate of XRP has declined by 1% over the last 24 hours.
Image by TradingView
On the local chart, the rate of XRP is closer to the support than to the resistance, which means that bears are not giving up so easily.
Denys SerhiichukIf the bar closes near the $0.4742 mark, the fall is likely to continue to the $0.47 zone.
Image by TradingView
On the bigger time frame, the price of XRP has continued to decline after a false breakout of the resistance at $0.4854. If the price does not return to $0.48 shortly, the fall can lead to a test of the $0.46 zone soon.
Image by TradingView
From the midterm point of view, the rate of XRP has once again bounced off the support level at $0.4428. While the price is above that mark, buyers have a chance to seize the initiative. However, the rate needs to be fixed above the $0.50 zone for a possible reversal.
XRP is trading at $0.4752 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin