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Bears are trying to seize the initiative at the beginning of the weekend, according to CoinStats.
XRP/USD
The price of XRP has declined by 0.32% since yesterday.
On the hourly chart, the rate of XRP is returning to the local resistance of $2.2147. If the daily bar closes near that mark or above, the accumulated energy might be enough for a further upward move to the $2.25 area.
A less clear picture is on the bigger time frame. The price of XRP is in the middle of the channel between the support of $2.1482 and the resistance of $2.3034.
The volume remains low, which means traders are unlikely to witness sharp moves soon.
From the midterm point of view, the situation is similar. The rate is within the previous candle, confirming the absence of buyers' and sellers' energy. In this case, sideways trading in the narrow range of $2.10-$2.30 is the more likely scenario.
XRP is trading at $2.2125 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team