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Sellers remain more powerful than buyers, according to CoinStats.
XRP/USD
The price of XRP has dropped by 1.72% since yesterday.
On the hourly chart, the rate of XRP might have found a local support of $2.2342. If the daily bar closes around the current prices, one can expect a test of the $2.32-$2.34 range by tomorrow.
On the bigger time frame, traders should pay attention to the nearest interim area of $2.20. If its breakout happens, the correction is likely to continue to the $2 zone shortly.
From the midterm point of view, the price of XRP is in the middle of a wide channel. As none of the sides is dominating, there are low chances to see sharp moves soon.
Denys SerhiichukIn this case, traders may expect sideways trading in the zone of $2.00-$2.50.
XRP is trading at $2.3186 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.
Gamza Khanzadaev
Dan Burgin
Vladislav Sopov