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The crypto market is falling on the first day of December, according to CoinStats.
XRP/USD
The rate of XRP has dropped by 7.62% over the last 24 hours.
On the hourly chart, the price of XRP is near the local support of $2. If its breakout occurs, the fall is likely to continue to the $1.95 area tomorrow.
On the longer time frame, the rate of XRP is falling after a breakout of the $2.1482 level. At the moment, one should pay attention to the daily bar's closure.
If it happens near the bar's low, the decline may lead to a test of the $1.80-$1.90 range soon.
From the midterm point of view, bulls have failed to keep rising after the bullish weekly bar's closure. If buyers lose the psychological $2 area, traders may witness an ongoing drop to the $1.50 zone until mid-December.
XRP is trading at $2.0003 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team