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.
Bulls are trying to get back in the game, according to CoinStats.
XRP/USD
The rate of XRP has increased by 1.48% over the last 24 hours.
On the hourly chart, the rate of XRP is on its way to testing the local resistance level of $0.5139. If the upward move continues by the end of the day, there is a chance to see a breakout followed by a further rise to the $0.52 area.
On the daily time frame, the rate is far from important levels, which means that XRP has not accumulated enough energy for a sharp move. Buyers have a chance to seize the initiative only if they restore the price to the $0.52 mark.
From the midterm point of view, traders should focus on the bar's closure. If it happens above the previous candle peak, the growth is likely to continue.
Denys SerhiichukAll in all, a possible upward move might lead to the test of the $0.54-$0.56 range by the end of the month.
XRP is trading at $0.5102 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin