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The new week has started bullish for most of the cryptocurrencies, according to CoinMarketCap.
XRP/USD
The rate of XRP has risen by 1.89% over the last 24 hours.
On the hourly chart, the price of XRP is near the local resistance of $1.9493. If bulls can hold the gained initiative, the upward move is likely to continue to the $1.97-$1.98 range.
On the bigger time frame, one should focus on daily candle closure in terms of the $1.9491 level. If its breakout happens, the accumulated energy might be enough for a test of the $2 zone.
Such a scenario is relevant until the end of the week.
From the midterm point of view, the price of XRP is far from the main levels. Thus, the volume is low, which means none of the sides has got enough strength for a sharp move. In this case, traders are unlikely to expect increased volatility this month.
XRP is trading at $1.9292 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team