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Buyers turned out to be more powerful than sellers on Sunday.
XRP/USD
XRP has gained more value than Bitcoin (BTC), going up by 2.08%. Over the last week, the price has risen by 13.95%.
Despite today's rise, further growth is unlikely as XRP has passed most of its daily ATR. Thus, the price is in the middle of the channel at the moment. All in all, consolidation in the range of $0.45-$0.46 is the more likely scenario.
A similar situation is on the daily time frame. The price has not accumulated enough to grow or fall as it is located far from the key levels. This statement is also confirmed by decreasing volume. In this regard, sideways trading can continue the upcoming week.
From the midterm point of view, the price of XRP is likely to close above the level of $0.4328. If that happens, bulls have a chance to continue the growth to the nearest zone of buyers' interest, the $0.50 mark.
XRP is trading at $0.4528 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin