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Bears are trying to seize the initiative, according to CoinMarketCap's ranking.
Top coins by CoinMarketCap
XRP/USD
The price of XRP has almost not changed over the last 24 hours.
Image by TradingView
On the local chart, the price of XRP might have found a local peak at $0.4940. If the decline continues to the $0.49 mark, there is a chance to see a support breakout followed by a blast to the $0.4860 zone. Such a scenario is relevant until the end of the day.
Image by TradingView
On the bigger time frame, the situation is not so clear as the price keeps trading sideways with no bearish or bullish signals. This statement is also confirmed by the low volume. If buyers want to be back in the game, they need to restore the rate above the $0.50 zone. Only in that case can one expect a test of the resistance at $0.5270.
Image by TradingView
Ongoing sideways trading is also the more likely scenario on the weekly chart. Any sharp moves are unlikely to happen soon as the rate is far from the key levels. Respectively, traders are likely to see the price of XRP between $0.45 and $0.52 until mid-July.
XRP is trading at $0.04911 at press time.
Arman Shirinyan
Alex Dovbnya
