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Bulls are controlling the situation on the market at the beginning of the second part of the week, according to CoinMarketCap.
XRP/USD
XRP is an exception to the rule, falling by 1.06% over the last 24 hours.
On the hourly chart, the rate of XRP is on its way to the local support of $2.1426. If it breaks out, the correction is likely to continue to the $2.10 range.
On the longer time frame, bulls have failed to keep the rise going after yesterday's bullish closure. If the candle closes below the $2.14 mark, traders may expect an ongoing decline to the $2.00-$2.10 area.
Such a scenario is relevant until the end of the week.
From the midterm point of view, none of the sides is dominating as the rate of XRP is far from the key support and resistance levels. Thus, the volume is low, which means sideways trading around the current prices is the most likely scenario.
XRP is trading at $2.1397 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team