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Bulls could not hold the gained initiative at the beginning of the day, and most of the coins returned to the red zone.
XRP/USD
XRP has followed the drop of Bitcoin (BTC), going down by 0.37%.
Despite the fall, the price of XRP is trading near the local resistance level at $0.4023. If buyers' pressure continues and the candle closes around that mark, the breakout may lead to the test of $0.4050 tomorrow.
On the daily time frame, the situation is not so clear as the rate of XRP keeps trading in a wide range between the support at $0.386 and the resistance at $0.4225. If buyers want to keep the rise going, they need to get the rate back to the interim mark of $0.41.
The situation remains bearish on the daily chart against Bitcoin (BTC). However, the price might have found local support at 0.00001701. But it is too early to think about a possible rise as XRP needs more time to accumulate power for that.
Denys SerhiichukIn this case, sideways trading in the area of 0.00001750 might be the more likely scenario.
XRP is trading at $0.4017 at press time.
Vladislav Sopov
Alex Dovbnya
Dan Burgin