Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The local rise has continued on the cryptocurrency market, according to CoinStats.
XRP/USD
XRP has joined the list of rising coins, going up by 0.50%.
The rate of XRP still looks bullish on the local chart. The rate is approaching the resistance of $0.4868. If the bar closes around that area, the accumulated energy might be enough for a breakout followed by a blast to the $0.49 zone soon.
On the daily time frame, the rate of XRP is slightly rising after a false breakout of the support level of $0.4785. However, there is not enough energy for a continued upward move.
In this case, sideways trading in the area of $0.485-$0.49 is the more likely scenario for the next few days.
From the midterm point of view, the rate of XRP has formed support at $0.459. While the price is above that mark, there is a chance of a local rise. All in all, a bar close above $0.50 can be a prerequisite for a bounce back to the $0.51-$0.52 area.
XRP is trading at $0.4859 at press time.
Yuri Molchan
Arman Shirinyan
Alex Dovbnya
