Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bears remain more powerful than bulls as the coins' rates are decreasing.
XRP/USD
The rate of XRP has declined by 1.23% over the last 24 hours.
On the hourly chart, XRP might have found the local bottom at the $0.3736 support level. Meanwhile, the peak of the same candle serves as the resistance.
Denys SerhiichukIf buyers' pressure continues until the end of the day, one can expect a breakout, followed by the rise to the $0.39 mark tomorrow.
On the daily time frame, the rate of XRP has once again bounced off the support level of $0.3736. The altcoin has chances for local growth. However, if the bar closes below $0.38, the sharp decrease may lead to the test of the $0.36 zone soon.
Analyzing the situation against Bitcoin (BTC), XRP has made a false breakout of yesterday's low at 0.00002240. If today's candle closes far from the support, the local upward move can continue to the 0.000023 mark.
XRP is trading at $0.3835 at press time.
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov