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Bulls have failed to hold the initiative until the end of the day, according to CoinStats.
XRP/USD
The rate of XRP has gone down by 0.32% over the past day.
On the hourly chart, the price of XRP has made a false breakout of the formed support of $2.1336. However, if a bounce back does not happen, traders may expect an ongoing downward move to the $2.12 range.
On the longer time frame, there are no reversal signals yet.
If the daily bar closes near its low, there are high chances of seeing a test of the $2.10 zone soon.
From the midterm point of view, the candle is about to close with a high wick, which is a bearish signal. If the breakout of the interim level of $2.10 happens, traders may expect a dump to the vital $2 area.
XRP is trading at $2.14 at press time.
Vladislav Sopov
U.Today Editorial Team