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Buyers are still powerful despite sellers' pressure, according to CoinStats.
XRP/USD
The rate of XRP has fallen by 0.29% since yesterday.
On the hourly chart, the price of XRP is also bearish as it is trading near the local support of $0.6222. If no bounce back happens by the end of the day, the correction may continue to the $0.61 zone soon.
On the bigger time frame, sellers are also more powerful than buyers. If bulls lose the vital zone of $0.60, there is a possibility of a test of the $0.55-$0.58 area the upcoming week.
From the midterm point of view, sideways trading remains the more likely scenario as neither side has accumulated enough energy for a further sharp move.
In this regard, traders may witness consolidation between $0.60 and $0.65 soon.
XRP is trading at $0.6244 at press time.
Gamza Khanzadaev
Tomiwabold Olajide
Arman Shirinyan
