Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The correction has started for most coins from the top 10 list, according to CoinStats.
XRP/USD
The rate of XRP has fallen by 1.17% since yesterday.
On the hourly chart, the price of XRP is breaking the local support of $3.4115. If the daily bar closes below that mark, the correction may continue to the $3.35 range soon.
On the bigger time frame, the rate of XRP is going down after a false breakout of the resistance of $3.5495.
If bulls cannot seize the initiative, traders may witness a test of the $3-$3.20 zone over the next few days.
From the midterm point of view, one should pay attention to the bar closure in terms of the $3.40 level. If it happens below and with a long wick, sellers may be back in the game, and traders may witness a correction to the $3 mark.
XRP is trading at $3.399 at press time.
Vladislav Sopov
U.Today Editorial Team