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 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.
Dan Burgin
Alex Dovbnya