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Ongoing market growth remains the most likely scenario, according to CoinMarketCap.
XRP/USD
XRP is one of the main performers today, rising by 5.84%.
On the hourly chart, the rate of XRP is near the local support of $3.4208. As most of the ATR has been passed, traders are unlikely to witness sharp moves by the end of the day.
However, if the candle closes around current prices, there is a possibility to see a test of the $3.35 area over the weekend.
On the longer time frame, the price of XRP has made a false breakout of yesterday's peak of $3.5495. If the bar closes far from that mark, one can expect a correction to the vital $3 zone.
From the midterm point of view, traders should focus on the bar closure in terms of the $3.40 level. If bulls can hold the gained initiative and the candle closes above it and with no long wick, the growth may lead to the test of a new all-time high.
XRP is trading at $3.4646 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team