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The market has quickly returned to the green zone after a slight correction, according to CoinMarketCap.
XRP/USD
The price of XRP has risen by 1.72% over the last 24 hours.
On the hourly chart, the rate of XRP is going down after a false breakout of the local resistance of $2.0463. If sellers' pressure continues, there is a high chance of seeing an ongoing correction to the $2.02 zone by tomorrow.
On the longer time frame, the price of XRP is far from key levels.
The volume remains low, which means traders are unlikely to see increased volatility this week.
From the midterm point of view, sellers are more powerful than buyers. If the weekly bar closes near or around the support of $1.9835, the accumulated energy might be enough for a dump to the $1.85-$1.90 range. Such a scenario is relevant until the end of the month.
XRP is trading at $2.0241 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team