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The market might have entered a sideways trend, according to CoinMarketCap.
XRP/USD
The rate of XRP has increased by 1.81% over the last 24 hours.
On the hourly chart, the price of XRP is looking bullish as it is approaching the resistance of $0.5730. If the daily bar closes around that mark, there is a chance to see a breakout, followed by a blast to the $0.5750-$0.58 zone.
On the bigger time frame, the growth of XRP continues. However, the price is far from the resistance level of $0.5776. If buyers want to keep the midterm rise going, they need to return the rate above the mentioned mark.
If that happens, the accumulated energy might be enough for a test of the $0.59-$0.60 area.
From the midterm point of view, it is too early to make any predictions, as a few days remain until the bar's closure. However, if the candle closes above $0.58, traders may witness a continued rise to the $0.60 mark.
XRP is trading at $0.5710 at press time.
Alex Dovbnya
Valeria Blokhina
Vladislav Sopov
