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Bears are active again, according to CoinStats.
XRP/USD
XRP is the exception to the rule, rising by more than 4% since yesterday.
On the hourly chart, the rate of XRP is in the middle of the local channel, between the support of $0.5200 and the resistance of $0.5407.
Denys SerhiichukAt the moment, there are low chances to see any sharp moves until the end of the day, as most of the ATR has been passed. In this regard, sideways trading in the area of $0.53-$0.54 is the more likely scenario.
On the bigger time frame, traders should pay attention to the nearest level of $0.5578. If the upward move continues to that mark, the accumulated energy might be enough for a blast to the $0.58-$0.60 area.
On the weekly chart, the rate of XRP is closer to the resistance than to the support, which means that buyers are trying to hold the initiative. If the rise continues to the $0.5848 level, the breakout may lead to a quicker test of the $0.70 zone.
XRP is trading at $0.533 at press time.
Alex Dovbnya
Dan Burgin
Vladislav Sopov