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 start of June is more bearish than bullish, according to CoinStats.
XRP/USD
The rate of XRP has fallen by 1% over the last day.
On the hourly chart, the price of XRP is going up after setting local support at $2.1231. If buyers' pressure continues, one can expect an ongoing upward move to the resistance by tomorrow.
On the bigger time frame, neither side is dominating as the rate of XRP is trading within yesterday's bar. As most of the daily ATR has been passed, any sharp moves are unlikely to happen.
From the midterm point of view, there are no reversal signals yet.
If the weekly bar closes around the current prices, there is a possibility to witness a test of the $2 area soon.
XRP is trading at $2.1518 at press time.
Vladislav Sopov
U.Today Editorial Team