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The market has come back to the green zone, according to CoinStats.
XRP/USD
The rate of XRP has gone up by 2.42% since yesterday.
On the hourly chart, the price of XRP has made a false breakout of the local support of $2.4794. However, if a bounce back does not happen until the end of the day, traders may witness a further drop to the $2.45 mark.
On the longer time frame, the picture is neither bullish nor bearish as the rate of XRP is far from support and resistance levels.
Thus, the volume is low, which means sideways trading in the range of $2.40-$2.60 is the most likely scenario.
From the midterm point of view, the situation is similar. In this regard, traders should focus on the nearest level of $3. If its breakout occurs, growth may continue to the $3.20 range.
XRP is trading at $2.4954 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team