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The rates of the majority of the coins are falling today, according to CoinStats.
XRP/USD
XRP is one of the biggest losers today, going down by 3.77%.
Despite today's drop, the rate of XRP remains bearish on the hourly chart. The price is near the support level of $2.0819.
If it breaks out, the accumulated energy might be enough for a move to the $2.07 zone.
On the bigger time frame, the price of XRP is going down after yesterday's bearish closure. If bulls lose the vital $2 zone, traders may witness a test of the $2-$2.05 area by the end of the week.
On the weekly chart, the rate is far from the key level, which means neither buyers nor sellers are dominating at the moment. In this regard, one should pay attention to the interim zone of $2. If its breakout happens, there is a possibility to expect a drop to the $1.80-$1.90 range.
XRP is trading at $2.0939 at press time.
Vladislav Sopov
U.Today Editorial Team