Bulls have returned the lost initiative as all of the top 10 coins are in the green zone.
Top coins by CoinMarketCap
XRP/USD
The rate of XRP has increased by 2.58% over the last 24 hours.
Image by TradingView
On the hourly chart, the price of XRP is approaching the resistance after a false breakout of the local support level at $0.5131. If closure happens near the $0.5190 mark, there is a chance to see a further growth to $0.52 and above.
Image by TradingView
On the bigger time frame, today's bar is likely to close above yesterday's peak at $0.5166. If that happens, one can expect a slight growth to the next resistance zone around $0.54. Such a scenario is relevant until the end of the week.
Image by TradingView
Despite the potential bullish weekly closure, the rate of XRP is far from key levels. The low volume confirms that bulls might need more time to accumulate energy for a continued rise. In this case, sideways trading in the area of $0.50-$0.53 is the more likely scenario until mid-June.
XRP is trading at $0.5179 at press time.
Godfrey Benjamin
Gamza Khanzadaev
Vladislav Sopov