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The local decline might have ended on the cryptocurrency market, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
XRP/USD
XRP is one of the least growing coins today, going up by only 2.08%.
Image by TradingView
On the local chart, the price of XRP is trading in the middle of the local channel, between the support at $0.49 and the resistance at $0.5030. If the daily bar closes near $0.50 or above that mark, one can expect a blast to the $0.51 zone until the end of the week.
Image by TradingView
On the daily time frame, the price of XRP has tested the interim mark of $0.50. If the false breakout of it happens and the bar closes far from it, traders are likely to see a local drop to the $0.4950 zone. Such a scenario is relevant until the end of the month.
Image by TradingView
Neither bulls nor bears are dominating on the weekly chart as the rate is in the middle of a wide channel. This means that none of the sides has accumulated enough strength to seize the initiative. In this case, one can expect ongoing consolidation in the area of $0.47-$0.51 for the next few weeks.
XRP is trading at $0.4969 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team