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The market keeps falling at the end of the week, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 5.82% over the past day.
On the hourly chart, the price of XRP has made a false breakout of the local support of $2.2023.
However, if the rate does not bounce back far from it, and the daily bar closes near $2.20, there is a high chance of seeing an ongoing drop to the $2.15 zone.
On the longer time frame, there are no reversal signals yet. If the daily candle closes near its low, one can expect a test of the $2 area soon.
From the midterm point of view, bears are controlling the situation on the market. If bulls cannot seize the initiative, traders may witness a test of the support of $1.7711 by the end of the month.
XRP is trading at $2.2609 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team