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The market is neutral on the first day of the weekend, according to CoinStats.
XRP/USD
XRP has lost a lot of value today, falling by 2.11%.
On the hourly chart, the rate of XRP is approaching the local support of $2.2428. If sellers' pressure continues, one can expect a level breakout followed by a further drop to the $2.23-$2.24 area.
On the bigger time frame, the daily bar is about to close bearish.
If it happens, the decline may lead to a test of the $2.10-$2.20 range. Such a scenario is relevant for the next week.
From the midterm point of view, bears are also controlling the situation on the market. If the weekly bar closes around the current prices, traders may witness a test of the $2 zone by the end of the month.
XRP is trading at $2.2596 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team