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Buyers are coming back to the game after a slight correction, according to CoinStats.
XRP/USD
The price of XRP has gone up by 1.63% since yesterday.
On the hourly chart, the rate of XRP has bounced off the local support of $2.9840. As most of the daily ATR has been passed, traders are unlikely to expect sharp moves by tomorrow.
On the longer time frame, the price of XRP is far from the support and resistance levels. In this case, one should focus on the nearest zone of $3.
If its breakout happens, the correction is likely to continue to the $2.80-$2.90 range shortly.
From the midterm point of view, the picture is similar. The volume remains low, which means none of the sides is ready to seize the initiative. In this regard, consolidation in the range of $2.90-$3.10 is the most likely scenario until the end of the month.
XRP is trading at $3.0112 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team