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Buyers are controlling the situation on the market on the first day of the week, according to CoinStats.
XRP/USD
XRP is one of the biggest gainers today, rocketing by 11.32%.
On the hourly chart, the rate of XRP is near the local resistance of $2.5518. As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
However, if bulls hold the initiative and keep the price near $2.5518, growth is likely to continue tomorrow.
On the longer time frame, the price of XRP keeps rising after yesterday's bullish closure. At the moment, traders should pay attention to the nearest level of $2.5546. If the bar closes far from that mark, one can expect a correction to the $2.50 range.
From the midterm point of view, the situation is less bullish. Traders should focus on the nearest resistance of $2.6624. Until its breakout occurs, there is still a chance of seeing a correction.
XRP is trading at $2.5375 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team