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Bears are coming back to the game on the first day of the week, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 0.78% over the last 24 hours.
On the hourly chart, the price of XRP is in the middle of the local channel. The volume is falling, which means there are low chances of seeing sharp moves by tomorrow. Thus, most of the daily ATR has been passed.
On the bigger time frame, the picture is more positive. The rate is near the resistance, which confirms the bulls' strength.
If its breakout happens, the accumulated energy might be enough for a move to the $2.30-$2.35 range.
From the midterm point of view, it is too early to make any distant predictions as the week has just started. However, if buyers want to seize the initiative again, they need to restore the rate above the interim area of $2.40.
XRP is trading at $2.26 at press time.
Vladislav Sopov
U.Today Editorial Team