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Buyers could not hold the growth for long, according to CoinStats.
XRP/USD
The rate of XRP has declined by almost 4% since yesterday.
On the hourly time frame, the price of XRP has broken the local support level of $0.6058. If the daily bar closes below it, the ongoing decline may continue to the test of the $0.58-$0.59 zone tomorrow.
On the daily chart, the rate of XRP has continued to fall after yesterday's bearish closure.
If buyers lose the $0.60 zone, bears may seize the initiative, which might lead to a more profound drop to the $0.55 area within the next few days.
A similar situation can be seen on the weekly time frame. However, one should focus on the bar closure in terms of the previous candle low. If it happens below, the decline will continue to the support of $0.5491 until the end of the month.
XRP is trading at $0.5990 at press time.
Tomiwabold Olajide
Arman Shirinyan
Alex Dovbnya
