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The weekend has started with the market bouncing back, according to CoinMarketCap.
XRP/USD
The rate of XRP has risen by 3.80% over the last day.
On the hourly chart, the price of XRP has made a false breakout of the local support of $2.2745.
If the daily bar closes far from that mark, traders may witness local growth to the $2.33 resistance.
On the bigger time frame, the rate of XRP is far from the main levels, which means neither bulls nor bears have accumulated enough energy for a further move. In this case, sideways trading around the current prices is the more likely scenario.
From the midterm point of view, there are no reversal signals so far. However, if the weekly bar closes far from its low, bulls may seize the initiative, which may lead to a bounce to the $2.50 range.
XRP is trading at $2.2763 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team