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.
Buyers are slightly losing their initiative as most of the coins are returning to the red zone.
XRP/USD
The price of XRP has fallen by 3.44% since yesterday.
On the hourly chart, the rate of XRP is in the middle of the local channel, getting energy for a sharp move. However, one should not expect any sharp moves today as most of the ATR has been passed.
Denys SerhiichukIn this case, sideways trading in the area of $0.515-$0.5158 is the more likely scenario.
On the bigger time frame, the rate of XRP is far from the resistance, which means that it is too early to think about a reversal. As neither side is dominating, ongoing consolidation in the area of $0.50-$0.53 is the more likely scenario for the upcoming week.
Almost the same situation is on the weekly chart. The price of XRP has set a resistance level of $0.54915. While the rate is below that mark, there is still a possibility to see a correction. Meanwhile, if bulls lose the vital zone of $0.50, the drop may lead to a test of the $0.45 area again.
XRP is trading at $0.5162 at press time.
Yuri Molchan
Tomiwabold Olajide
U.Today Editorial Team
Vladislav Sopov
Dan Burgin