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All of the top 10 coins are in the red zone at the beginning of the week, according to CoinStats.
XRP/USD
The rate of XRP has fallen by 4.53% since yesterday.
On the hourly chart, the price of XRP has made a false breakout of the local support of $2.3877. However, if the bounce back does not happen by the end of the day, one can expect a further correction to the $2.35 mark.
On the longer time frame, the picture is also bearish. The rate is approaching the support of $2.3547.
If its breakout happens, the accumulated energy might be enough for a more profound decline to the $2.20-$2.30 range.
From the midterm point of view, the rate of XRP keeps going down after a false breakout of the resistance of $2.6624. As the price is far from key levels, one should focus on the candle's closure in terms of the previous weekly bar's closure. If it happens below $2.40, the fall may lead to a test of the $2.20 area soon.
XRP is trading at $2.4133 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team