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Most of the coins are in the red zone on the first day of the week, according to CoinStats.
XRP/USD
The rate of XRP has declined by almost 2% since yesterday.
On the hourly chart, the price of XRP is near the local support level of $2.9209. If its breakout occurs, the accumulated energy might be enough for a test of the $2.80-$2.85 zone.
On the longer time frame, the rate of the altcoin is far from the key levels. In this regard, traders should pay attention to the interim area of $3.
If the daily bar closes below it, one can witness a further decline to the support of $2.7387.
From the midterm point of view, the price of XRP is closer to the support than to the resistance. If bears' pressure continues and the bar closes near the bottom level, there is a chance to see a test of the $2.50-$2.70 range.
XRP is trading at $2.9481 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team