The cryptocurrency market went up after Bitcoin (BTC) bounced off the $6,200 level. Subsequently, all top 10 coins are also in the green.
During today's price rally, Bitcoin gained more than altcoins, which has positively affected the dominance rate of the leading cryptocurrency.
Let's take a look at the relevant XRP data:
Market Cap: $7 744 086 204
Volume (24h): $2 108 863 774
Change (24h): 2.77%
The data is relevant at the press time.
XRP/USD: the ongoing rally might be a false one
Yesterday, sellers pushed the price of XRP down to break below the blue trend line. In the evening, buyers managed to seize the opportunity and managed to win back the two-hour EMA55.
Buyers still have a chance to compete for the $0.187 resistance re-test, but this requires a strong bullish momentum. If the buy volume cannot be increased, the price may fall to the $0.130 area by the end of the week.
On the daily chart, the bears are dominating, which is confirmed by the relatively low liquidity at the current levels. What is more, the RSI indicator is forming a bearish divergence.
A decline to the closest crucial area of $0.14 by the end of the current week could is currently the most plausible scenario for XRP.
The token is trading at $0.1761 at press time.
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