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Bears are back in the game, according to CoinMarketCap's ranking.
XRP/USD
XRP is an exception, rising by 0.36% over the past 24 hours.
Despite the slight rise, XRP is looking bearish on the local chart. The price is returning to the hourly support level at $0.3511. If the bar closes around it, the drop may lead to a test of the $0.35 zone by tomorrow.
The opposite situation is on the daily time frame, as the rate is located near the resistance level at $0.3570. However, it is too early to think about an upward move, as buyers need to fix the rate above the aforementioned level to seize the initiative. If that happens, the growth may last to the $0.37 mark.
From the midterm point of view, the situation is also more bullish than bearish. After the closed bearish candle, buyers are trying to seize the initiative. Currently, one should pay attention to $0.35, as closure above it could be a prerequisite for a move to the $0.37 zone. The volume is rising, which confirms bulls' power.
XRP is trading at $0.3519 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin