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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.
Denys SerhiichukSuch 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.
Valeria Blokhina
Dan Burgin
Alex Dovbnya
Vladislav Sopov