After today's dump in the cryptocurrency market, a short sideways trend has begun. However, all of the top 10 coins remain in the red zone.
In terms of weekly analysis, the XRP rate has lost almost half of its price.
The relevant data for XRP is below.
Market Cap: $7 006 381 659
Volume (24h): $2 886 176 419
Change (24h): -26.33%
The data is relevant at press time.
XRP/USD: Is there an obstacle for sellers at $0.10?
XRP has fallen the least compared to Bitcoin (BTC) and Ethereum (ETH). The decline has amounted to 24.82% over the last day.
XRP is oversold on the hourly chart, as well as on other time frames. We can expect the short-term forecast to be a sideways trend as there are neither efforts from sellers to push the price lower nor strength from bulls to start a correction.
In this case, one may expect XRP to trade between $0.16 and $0.15 in the nearest days.
On the daily chart, a bearish mood has become even more visible. The MA 50 and MA 100 are dropping and there are no signs of a trend reversal. In this regard, a more likely price projection is a decline to the next important zone at $0.12.
XRP is trading at $0.1601 at press time.