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Buyers are trying to get back in the game, according to CoinMarketCap.
XRP/USD
The rate of XRP has increased by 0.79% over the last 24 hours.
The price of XRP is looking bullish on the hourly chart. At the moment, it is located near the local resistance of $0.5994. If buyers can hold the initiative until the end of the day, the accumulated energy might be enough for a breakout.
On the bigger time frame, the rate of XRP has made a false breakout of yesterday's bar's low. If the candle closes far from that mark, the bounce back may continue to the $0.62-$0.64 area by the end of the week.
A less clear picture can be seen on the weekly chart. The price is in the middle of the wide channel, between the support of $0.4590 and the resistance of $0.7329. As none of the sides are dominating, ongoing sideways trading in the zone of $0.55-$0.65 is the more likely scenario.
XRP is trading at $0.5963 at press time.
Godfrey Benjamin
Arman Shirinyan
Vladislav Sopov
Dan Burgin