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Buyers might not have accumulated enough energy for a continued rise, according to CoinStats.
XRP/USD
The price of XRP has gone down by 5.13% since yesterday.
On the hourly chart, the rate of XRP is looking bearish as it is about to breakout the local support of $0.5458. If it happens, the correction may continue to the $0.54 area and below.
On the daily time frame, the price has continued the fall after yesterday's bearish closure. At the moment, there are no reversal signals yet.
Denys SerhiichukIf the candle closes below $0.55, the energy might be enough for a more profound drop to the vital area of $0.50.
From the midterm point of view, the weekly bar is about to close bearish. If the picture does not change by the end of the day, bears may get back in the game, which might lead to a decline below $0.50.
XRP is trading at $0.5431 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin