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Bulls have come back to the game at the beginning of the week, according to CoinStats.
XRP/USD
The rate of XRP has rocketed by 6.67% over the last 24 hours.
On the hourly chart, the price of XRP has broken the local resistance of $3.0312. As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
However, if the candle closes with no long wick, the upward move is likely to continue to the $3.10 area.
On the longer time frame, the rate of XRP might have found a local bottom by now. However, bulls might need more time to accumulate energy for a further upward move. In this case, sideways trading in the area of $3-$3.15 is the most likely scenario.
From the midterm point of view, the price of XRP is far from support and resistance levels. In this case, traders should focus on the nearest area of $3. If the weekly bar closes above it, growth may continue to the $3.20 range.
XRP is trading at $3.0670 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team