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 market has returned to a corection phase, according to CoinStats.
XRP/USD
The rate of XRP has declined by 6.8% over the last 24 hours.
On the hourly chart, the price of XRP is near the local support of $1.9841. If a bounce back does not happen by the end of the day, there is a chance to see a test of the $1.95 mark soon.
On the daily time frame, bears keep controlling the situation on the market. The volume is rising, which means the price of XRP may have accumulated enough energy for a sharp move.
Denys SerhiichukIn this case, if the candle closes below $1.9510, the fall may continue to the $1.80 zone.
From the midterm point of view, there are no reversal signals yet. If the breakout of the $1.90 level happens, traders may expect a more profound decline to the $1.60 area.
XRP is trading at $2.01 at press time.
Vladislav Sopov
Dan Burgin