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Bears remain more powerful than bulls in the middle of the week, according to CoinMarketCap.
XRP/USD
XRP is an exception to the rule, rising by 0.86% over the last 24 hours.
On the hourly chart, the rate of XRP has broken the local resistance of $1.9268. If bulls can hold the gained initiative and keep the price above that mark until the end of the day, one can expect a test of the $2 zone tomorrow.
On the longer time frame, the situation is less positive for bulls. The price of XRP is within yesterday's bar, which means none of the sides has enough energy for a further drop or a bounce back.
In this case, sideways trading in the range of $1.90-$2 is the most likely scenario until the end of the week.
From the midterm point of view, the picture is similar. The volume remains low, which means neither buyers nor sellers have enough energy for sharp ups or downs. All in all, traders are unlikely to witness increased volatility.
XRP is trading at $1.9449 at press time.
Denys Serhiichuk
Godfrey Benjamin
Gamza Khanzadaev
Tomiwabold Olajide
Alex Dovbnya