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The market is neither bullish nor bearish today, according to CoinStats.
XRP/USD
The price of XRP has increased by 0.59% over the last 24 hours.
The rate of XRP has failed to get to the recently formed resistance of $0.5029. If buyers fail to seize the initiative until the end of the day, the drop may continue to the support of $0.4987 soon.
On the bigger chart, the price keeps trading sideways, which is also confirmed by the low volume. If bulls want to get back in the game, they need to get back to the nearest resistance of $0.5252.
A similar picture can be seen on the weekly time frame, as the rate is trading within the previous bar. As none of the sides has seized the initiative yet, consolidation in the narrow range of $0.49-$0.52 remains the more likely scenario until the end of the month.
XRP is trading at $0.5007 at press time.
Arman Shirinyan
Alex Dovbnya
