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The weekend has started with a market bounce as most of the coins have returned to the green zone, according to CoinMarketCap.
XRP/USD
The rate of XRP has risen by 1.22% over the last 24 hours.
On the hourly chart, the price of XRP has made a false breakout of the local support at $1.9161. If the daily bar closes far from that mark, one may see a test of resistance by tomorrow.
On the bigger time frame, the situation has not changed much. The volume remains low, which means neither side has enough energy for a further move.
All in all, sideways trading in the range of $1.90-$1.95 is the more likely scenario until the end of the week.
From the midterm point of view, traders should focus on the weekly bar closure in terms of the nearest support level at $1.8209. If a breakout happens, the accumulated energy might be enough for a more profound decline to the $1.60 area.
XRP is trading at $1.9201 at press time.
Denys Serhiichuk
Tomiwabold Olajide
Godfrey Benjamin