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The market has quickly changed to red as most of the coins are in the red zone, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 3.64% over the last 24 hours.
On the hourly chart, the price of XRP is trading near the local support of $1.9927. If the daily bar closes below that mark, the correction is likely to continue to the $1.95 range soon.
On the longer time frame, the picture is rather bearish than bullish. If the breakout of the $1.9835 level happens, the accumulated energy might be enough for a more profound drop to the $1.90 area by the end of the week.
From the midterm point of view, one should focus on the same level of $1.9835.
If the weekly candle closes below it, traders can expect a test of the $1.80-$1.85 range until the end of the month.
XRP is trading at $1.9988 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team