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Bulls keep controlling the initiative on the market, according to CoinMarketCap.
XRP/USD
XRP is one of the biggest gainers today, rising by 4.49%.
On the hourly chart, the rate of XRP is near the formed resistance of $2.5146. As most of the daily ATR has passed, there are low chances of seeing sharp moves by the end of the day.
However, if buyers can hold the initiative, traders may expect a further upward move to the $2.60 range.
On the longer time frame, the price of XRP is going up after yesterday's bullish closure. However, the rate remains far from key levels, which means sideways trading in the zone of $2.45-$2.55 is the most likely scenario.
From the midterm point of view, the situation is similar. The rate is in the middle of a wide channel, confirming the absence of bulls and bears' energy. In this case, traders are unlikely to see sharp moves before the end of the month.
XRP is trading at $2.4946 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team