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The bounce back has not lasted long as most of the coins are back to the red zone.
XRP/USD
XRP has followed the drop of other coins, going down by 1.71%.
On the hourly chart, the rate of XRP has broken the local support level of $0.5089.
Until the price is below that mark, there is a good chance of seeing a further decline to the $0.50 zone.
On the bigger time frame, the price of XRP is coming back to the recently formed support level of $0.5040. If the daliy bar closes near it or below, the breakout may lead to a test of the $0.49 area until the end of the week.
A similar situation can be seen on the weekly chart. If the candle breaks the support level, the accumulated energy might be enough for a continued decline to the $0.4590 mark.
XRP is trading at $0.5079 at press time.
Tomiwabold Olajide
Godfrey Benjamin
Vladislav Sopov
