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The end of the week has turned out bearish for the crypto market, according to CoinStats.
XRP/USD
The price of XRP has declined by 1.35% since yesterday.
On the hourly chart, the rate of XRP is closer to the support than to the resistance. If buyers cannot seize the initiative by the end of the day, one can expect a level breakout, followed by a further correction to the $1.98 zone.
On the bigger time frame, one should focus on the interim area of $2. If bulls lose it, the accumulated energy might be enough for a test of the $1.90 range. Such a scenario is relevant for the upcoming week.
Bears are also dominating over bulls on the weekly chart.
As there are no reversal signals so far, traders may see an ongoing decline to the nearest support of $1.8209 until the end of the month.
XRP is trading at $2.004 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team