Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bears are still controlling the situation at the beginning of the weekend, according to CoinMarketCap's ranking.
XRP/USD
The price of XRP has declined by 1.90% over the previous 24 hours.
On the hourly chart, the price of XRP has tried to break the resistance at $0.4981 several times, but failed each time. If buyers cannot seize the initiative shortly, the decline may lead to a test of the local support level of $0.4950.
Such a scenario is relevant until the end of the weekend.
On the daily time frame, traders should focus on the important zone of $0.50. If the bar closes below it, the drop may continue to the support at $0.4835, as there are no reverse signals yet.
From the midterm point of view, the candle is about to close below the previous bar low at $0.5029. If that happens, traders are likely to see a test of the $0.45 area next week.
XRP is trading at $0.4963 at press time.
Arman Shirinyan
Alex Dovbnya
