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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.
In 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.
Arman Shirinyan
Yuri Molchan
Alex Dovbnya
