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The new week has started with the fall of the market as the rates of the majority of the coins are going down.
XRP/USD
The price of XRP has declined by 2.51% over the last 24 hours.
On the hourly chart, XRP set the local support level at $0.3707. At the moment, the rate is located in the middle of the channel; however, if the growth happens to the $0.378 mark, there are chances to see the test of the resistance at $0.3822.
The opposite situation can be seen on the daily time frame, as the rate is approaching the support at $0.37192. Moreover, the rate has even tested it. If the closure happens near that mark, the accumulated energy might be enough for a sharp drop to the $0.35 zone. In addition, the selling volume remains high, which means that bears are not going to give up.
The similar situation can be seen on the daily chart against Bitcoin (BTC). The price is on the way to the support level at 0.00002181. If the bar closes with no long wicks, the breakout may lead to the decline to the 0.000021 area until the end of the month.
XRP is trading at $0.3752 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin