Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The week is ending bullish for most coins, according to CoinStats.
XRP/USD
The price of XRP has remained the same since yesterday.
On the hourly chart, the rate of XRP is looking bearish as it is near the local support level of $0.5434. If buyers fail to seize the initiative by the end of the day, there is a high chance of a breakout followed by a decline to the $0.54 zone.
On the daily time frame, the price of XRP has made a false breakout of yesterday's candle peak. If the bar closes far from that mark, sellers may be back in the game, which might lead to a correction to the $0.53-$0.5350 area soon.
From the midterm point of view, neither bulls nor bears are dominating. The rate is in the middle of the wide channel, which means any sharp moves are unlikely to happen soon.
Denys SerhiichukAll in all, consolidation between $0.53 and $0.57 is the more likely scenario for the next weeks.
XRP is trading at $0.5446 at press time.
Arman Shirinyan
Yuri Molchan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov