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Bulls remain more powerful than bears at the beginning of the week, according to CoinMarketCap.
XRP/USD
The rate of XRP has risen by 3.18% over the last 24 hours.
On the hourly chart, the price of XRP has made a false breakout of the local resistance of $2.4783. As most of the daily ATR has passed, there are low chances of seeing sharp moves by tomorrow.
On the longer time frame, the situation is also bullish. Traders should focus on the daily bar's closure in terms of the nearest level of $2.4665.
If its breakout occurs, the accumulated energy might be enough for a test of the $2.60-$2.70 range.
From the midterm point of view, it is too early to make any long-term predictions. The volume remains low, which means that sideways trading around current prices is the most likely scenario until the end of the month.
XRP is trading at $2.46 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team