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Growth did not last long, and most of the coins have returned to the red zone.
XRP/USD
The rate of XRP has fallen by 2.53% over the last 24 hours.
On the hourly chart, the price of XRP is looking bearish as it is on the way to test the recently formed support of $0.5569.
If nothing changes, daily closure near that mark might be a prerequisite for a more profound drop to the $0.55 zone.
On the bigger time frame, one should pay attention to the candle's closure. If it happens below yesterday's low, the correction is likely to continue to $0.50.
From the midterm point of view, neither bulls nor bears are controlling the situation as the price is in the middle of the wide channel. In this case, ongoing sideways trading between $0.50 and $0.60 is the more likely scenario for the next few weeks.
XRP is trading at $0.5655 at press time.
Yuri Molchan
Vladislav Sopov
Gamza Khanzadaev
