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The rates of most of the coins are falling today, according to CoinStats.
XRP/USD
The price of XRP has declined by 0.17% over the last 24 hours.
On the hourly chart, the rate of XRP might have set a local support of $1.9894. If a bounce back does not happen and the daily candle closes around that mark, there is a high chance to see a further downward move to the $1.95 mark.
On the hourly chart, the price of XRP is about to break the support of $1.9950.
If it happens, the accumulated energy might be enough for a more profound decline to the $1.90 range.
From the midterm point of view, there are no reversal signals so far. In this regard, one should focus on the nearest zone of $2. If the weekly bar closes below it, traders may see a further correction to the $1.4-$1.6 area.
XRP is trading at $1.9985 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team