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The correction of most of the coins is continuing, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by almost 2% since yesterday.
Even though the trend is bearish, the price of XRP has made a false brekaout of the local support level of $0.4793. If the daily bar closes far from it, there is a chance to see a test of the resistance by tomorrow.
On the bigger time frame, the rate of XRP keeps going down after yesterday's bearish closure. If the bar closes near $0.48 or below it, the decline is likely to continue to the $0.46 zone.
From the midterm point of view, the picture is quite similar. The price has once again failed to fix above the vital zone of $0.50. If buyers cannot seize the initiative by the end of the week, one can expect a test of the resistance of $0.4309 soon.
XRP is trading at $0.4859 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team