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 rates of most of the coins have returned to the red zone, according to CoinMarketCap.
XRP/USD
The price of XRP has remained the same since yesterday.
On the hourly chart, the rate of XRP is coming back to the local support level of $0.4320. If the daily bar closes near it, the accumulated energy might be enough for a breakout to the $0.43 zone.
Today's move has not affected the technical position of XRP on the daily time frame. Such a statement is also confirmed by the falling volume, which means none of the sides is ready for a sharp move.
Denys SerhiichukIn this case, ongoing sideways trading in the narrow range of $0.43-$0.44 is the more likely scenario.
From the midterm point of view, the picture remains bearish as the price keeps trading below the $0.46 zone. In this regard, there is still a chance to expect a further correction to $0.40 level and below.
XRP is trading at $0.4355 at press time.
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov