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Most coins are facing corrections, according to CoinStats.
XRP/USD
The rate of XRP has fallen by 1.19% over the last 24 hours.
On the hourly chart, the price of XRP is falling after a false breakout of the resistance level at $0.6215. If nothing changes by the end of the day, there is a high chance of a drop to the $0.61 area.
On the bigger time frame, the rate of XRP remains more bearish than bullish as the price has not returned to the $0.64 zone.
If the situation does not change, traders may expect a test of the support level at $0.5860.
A similar picture is on the weekly chart. If the bar closes near the support, one can see a breakout followed by a decline to the $0.55 zone by the end of the month.
XRP is trading at $0.61625 at press time.
Tomiwabold Olajide
Gamza Khanzadaev
