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Bears are seizing the initiative at the end of the week as the prices of most of the coins are turning back to the red zone, according to CoinStats.
XRP/USD
The rate of XRP has increased by 0.54% over the last 24 hours.
On the hourly chart, the price of XRP is in the middle of the narrow channel, between the support of $3.0722 and the resistance of $3.1427. As none of the sides is dominating, there are low chances of seeing sharp moves by tomorrow.
On the longer time frame, the rate of XRP is within yesterday's bar.
However, if the breakout of the vital $3 zone happens, traders may witness a test of the $2.90 area shortly.
From the midterm point of view, none of the sides is dominating. The volume remains low, which means there are low chances of seeing sharp moves. All in all, sideways trading in the range of $3-$3.30 is the more likely scenario.
XRP is trading at $3.111 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team