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Buyers are trying to be back in the game, according to CoinStats.
XRP/USD
The rate of XRP has increased by 2.2% since yesterday.
On the hourly chart, the price of XRP is bearish as it is falling after a test of the local resistance level of $0.5923. If the situation does not change by the end of the day, traders are likely to witness a test of the support of $0.5857 soon.
On the bigger time frame, the picture remains unclear as the rate is far from the key levels. In this case, any sharp moves are unlikely to happen soon.
All in all, consolidation in the area of $0.58-$0.60 is the more likely scenario.
From the midterm point of view, neither side is dominating. However, one should pay attention to the interim level of $0.55. If a breakout happens, the drop may continue to the $0.50 range.
XRP is trading at $0.5883 at press time.
Yuri Molchan
Tomiwabold Olajide
Godfrey Benjamin
