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.
The market has not decided yet which way to move as neither bulls nor bears have seized the initiative.
XRP/USD
The price of XRP is almost unchanged as it has only gone up 0.22%.
On the local chart, XRP has started to drop after the breakout of the $0.3287 level. Currently, there are no signals for a fast reversal as the bulls have not accumulated enough power.
The drop can stop if a false breakout of the support level at $0.3199 occurrs.
On the bigger time frame, XRP is coming back to the support level at $0.3199 against the high volume. If the closure happens around this mark, the ongoing fall may continue to the $0.3150 zone soon.
On the weekly chart, XRP is located closer to the support level than to the resistance, which means that there are more chances to see a further fall than local growth. The rise may happen only if bulls can return the price above the $0.34 mark and fix there.
XRP is trading at $0.3247 at press time.
Alex Dovbnya
Arman Shirinyan
