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.
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.
Alex Dovbnya
Valeria Blokhina
