Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Sellers are losing their initiative, according to CoinStats.
XRP/USD
The price of XRP has blasted by 14.62% today.
On the hourly chart, the rate of XRP has set a local resistance of $2.59. Most of the daily ATR has been passed, which means there are low chances of seeing sharp moves by tomorrow.
On the larger time frame, traders should focus on the bar's closure in terms of the $2.64161 level.
Denys SerhiichukIf it happens around it or above, the accumulated energy might be enougn for a test of the $2.80 mark.
A less clear picture can be seen on the weekly chart. The price of XRP is far from support and resistance levels. All in all, ongoing consolidation in the range of $2.40-$2.80 is the most likely scenario by the end of the month.
XRP is trading at $2.5476 at press time.
Vladislav Sopov
Dan Burgin