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The bulls' dominance has not lasted long, and most of the coins are again in the red zone, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 3.35% since yesterday.
On the hourly chart, the price of XRP is near the local support of $3.05. If the bounce back does not happen until the end of the day, one can expect a level breakout, followed by a further correction to the $3.02 mark.
On the bigger time frame, the price is far from the main levels. In this case, one should focus on the nearest zone of $3.
Denys SerhiichukIf the daily bar closes near it or below, the accumulated energy might be enough for a test of the $2.80 range soon.
From the midterm point of view, traders should pay attention to the weekly candle's closure. If it happens far from its peak and with a long wick, bears may seize the initiative, which may lead to a drop to the $2.60-$2.80 area.
XRP is trading at $3.0875 at press time.
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.
Arman Shirinyan
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