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The rates of some coins keep falling, even though most of them are in the green zone today.
Top coins by CoinMarketCap
XRP/USD
XRP is the biggest loser today, falling by 4.58%.
Image by TradingView
On the hourly chart, the rate of XRP is trading in the middle of the narrow channel, between the support at $0.4979 and the resistance at $0.5101. If the decline continues to the important $0.50 zone, one can expect an ongoing decline to the $0.49 area.
Image by TradingView
A bearish situation can be seen on the daily time frame as the candle is about to close below yesterday's low at $0.5050. If that happens, the price of XRP is more likely to test the nearest support at $0.4860. Such a scenario is relevant until the end of the week.
Image by TradingView
The rate of XRP is also falling against Bitcoin (BTC) on the daily chart. At the moment, there are no reversal signals yet, which means the drop is likely to continue.
Thus, the selling volume is high, confirming bears' power. All in all, one can expect a test of the 0.00001850 zone by the end of the month.
XRP is trading at $0.5042 at press time.
Alex Dovbnya
Arman Shirinyan
Tomiwabold Olajide
