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Bears remain more powreful than bulls, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 4.24% over the last 24 hours.
On the hourly chart, the price of XRP is in the middle of a local channel, between the support of $0.5930 and the resistance of $0.6160.
As most of the daily ATR has been passed, there are low chances to expect any sharp moves today.
On the bigger time frame, the situation is rather more bearish than bullish. One should pay attention to the daily bar closure in terms of yesterday's bar low. If it happens below $0.60, the drop is likely to continue to the $0.57-$0.58 zone.
From the midterm point of view, the rate is far from key levels, which means one should not expect any sharp moves. In this case, sideways trading in the area of $0.58-$0.62 is the more likely scenario for the next few days.
XRP is trading at $0.60298 at press time.
Arman Shirinyan
Tomiwabold Olajide
Gamza Khanzadaev
