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Bears are not going to give up, according to the CoinMarketCap ranking.
XRP/USD
XRP is the exception to the rule, rising by 0.70% over the past 24 hours.
On the hourly chart, the price of XRP is coming back to the recently formed local support level at $0.3848. If the closure happens near or even below it, the accumulated energy is supposed to be enough for a continued fall to the $0.38 zone.
On the daily time frame, the situation is similar, as the price of XRP has continued to decline after a failed attempt to fix above the $0.40 mark. Likewise, the breakout of the $0.3811 level can be a prerequisite for an ongoing drop to the $0.36-$0.37 area.
XRP is looking bullish on the daily chart against Bitcoin (BTC) as the price is testing the support level at 0.00001643. The volume is rising, which means that buyers keep controlling the situation. All in all, the breakout of the mentioned mark, followed by the impulse to 0.00001681, is the more likely scenario until the end of the month.
XRP is trading at $0.3869 at press time.
Dan Burgin
Gamza Khanzadaev
Vladislav Sopov