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The market is mainly trading sideways on the last day of the week, according to CoinMarketCap.
XRP/USD
The price of XRP has fallen by 0.45% over the last 24 hours.
On the hourly chart, the rate of XRP is about to break the local support level of $0.4845. If a breakout happens, the correction may continue to the $0.4830 range. Such a scenario is relevant until tomorrow.
On the bigger time frame, there are no key levels nearby. In this regard, one should pay attention to the candle closure in terms of yesterday's bar low.
Denys SerhiichukIf it happens below, the fall may lead to a test of the $0.48 area.
A less clear picture is on the weekly time frame. The weekly bar is about to close far from its low and peak. It means neither side has accumulated enough strength for a further move. All in all, sideways trading in the narrow range of $0.47-$0.49 is the more likely scenario until the end of the month.
XRP is trading at $0.4845 at press time.
Alex Dovbnya
Valeria Blokhina
Dan Burgin
Vladislav Sopov
U.Today Editorial Team