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Bulls are trying to retrieve the lost initiative at the beginning of the weekend, according to CoinStats.
XRP/USD
The price of XRP has gone up by 6.42% over the last day.
On the hourly chart, the rate of XRP is in the middle of the local channel, between the support of $2.1216 and the resistance of $2.2157.
Denys SerhiichukAs most of the daily ATR has been passed, any sharp moves are unlikely to happen soon.
On the bigger time frame, the price of XRP is far from the main levels. In this case, one should focus on the interim zone of $2.10. If a breakout happens, traders may witness a test of the $2 mark shortly.
From the midterm point of view, the rate is approaching the support of $1.8991. If the weekly bar closes around it, the accumulated energy might be enough for an ongoing decline to the $1.60 zone.
XRP is trading at $2.1651 at press time.
Dan Burgin
Vladislav Sopov