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Bulls are not able to seize the initiative at the end of the week, according to CoinStats.
XRP/USD
XRP is one of the biggest losers today, falling by 8.28%.
The rate of XRP is in the middle of the local channel, between the support of $1.8467 and the resistance of $2.0226. As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
On the longer time frame, there are no reversal signals yet. In this regard, one should pay attention to the nearest zone of $2.
Until the rate is below that mark, the ongoing fall remains the most likely scenario.
From the midterm point of view, the situation is similar. If the weekly bar closes near its low, traders may witness a further decline to the $1.40-$1.60 range.
XRP is trading at $1.9463 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team