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A new week has begun with ongoing bears' control, according to CoinMarketCap.
XRP/USD
Unlike most of the other coins, the rate of XRP has risen by 1.59% over the last 24 hours.
On the hourly chart, the price of XRP has made a false breakout of the local resistance at $1.9168. However, if a bounce back does not happen and the daily bar closes near that mark or above it, one can expect a test of the $1.95 zone tomorrow.
On the longer time frame, the rate of XRP has once again bounced off the support at $1.8209. However, buyers have not accumulated enough energy for a continued upward move.
In this case, sideways trading in the range of $1.85-$1.95 is the most likely scenario this week.
From the midterm point of view, traders should focus on the weekly candle's closure in terms of the nearest level of $1.8209. If it breaks out, one can expect a further dump to the $1.70-$1.80 zone.
XRP is trading at $1.9166 at press time.
Tomiwabold Olajide
Denys Serhiichuk
Gamza Khanzadaev
João Garcia