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The last day of the week started bullishly for most of the coins, however, later bears seized the initiative, according to CoinStats.
XRP/USD
The rate of XRP has dropped by 1.18% since yesterday.
On the hourly chart, the price of XRP has made a false breakout of the local support at $2.0470. If the daily candle closes around that mark or below, the correction is likely to continue to the $2.04 area tomorrow.
On the bigger time frame, there are no reversal signals so far. If a breakout of the $2.0350 level happens, the accumulated energy might be enough for a further downward move to the $2 zone.
Such a scenario is relevant until the end of next week.
From the midterm point of view, the situation is similar. As the rate of XRP is far from the key levels, one should focus on the nearest zone of $2. If bulls lose it, there is a high possibility to witness an ongoing drop to the $1.8209 support.
XRP is trading at $2.0506 at press time.
Denys Serhiichuk
Gamza Khanzadaev