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Buyers keep controlling the situation on the market as the rates of coins are rising.
Top coins by CoinMarketCap
XRP/USD
The price of XRP has increased by 0.28% over the last 24 hours.
Image by TradingView
Despite today's rise, the price of XRP is looking bearish on the local time frame. The rate is returning to the recently formed support of $0.5279. If a breakout happens, the downward move may continue to the $0.52 zone.
Image by TradingView
The price of XRP keeps trading sideways on the daily chart as none of the sides has accumulated enough energy for a sharp move.
Bulls can seize the initiative only if they restore the rate above the $0.55 zone.
Image by TradingView
The falling volume confirms that ongoing sideways trading remains the more likely scenario on the weekly chart. In this case, there are low chances of seeing any sharp moves soon. All in all, consolidation in the area of $0.50-$0.54 is the more likely scenario until mid-September.
XRP is trading at $0.5277 at press time.
Alex Dovbnya
Gamza Khanzadaev
