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.
The weekend has started bearish for the market, according to CoinMarketCap.
XRP/USD
The price of XRP has declined by 2.13% since yesterday.
On the hourly chart, the rate of XRP is in the middle of the local channel between the support of $0.5080 and the resistance of $0.5265.
Denys SerhiichukThe volume keeps falling, which means any sharp ups or downs are unlikely to happen by the end of the day.
On the daily time frame, traders should pay attention to the bar closure. If it happens near or below the support level of $0.5137, the drop is likely to continue to the next vital zone of $0.50 soon.
From the technical point of view, the weekly bar is about to close bearish. If bulls cannot seize the initiative, there is a possibility to see a test of the $0.45-$0.50 area at the beginning of the next month.
XRP is trading at $0.5148 at press time.
Alex Dovbnya
Arman Shirinyan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov