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The growth has not lasted long as most of the coins are in the red zone, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 4.61% over the last 24 hours.
On the hourly chart, the price of XRP is trading near the local support level of $0.6158. If the price does not bounce back by the end of the day, the breakout may lead to a more profound decline to the $0.60 zone.
On the daily time frame, the situation is also rather more bearish than bullish. Here, one should pay attention to the nearest zone of $0.60. If the candle closes below it, it might be a prerequisite for a further correction to $0.55.
From the midterm point of view, the picture is neutral as none of the sides has seized the initiative. Such a statement is also confirmed by falling volume.
In this case, there are low chances of seeing any sharp moves soon. All in all, sideways trading in the area of $0.56-$0.66 is the more likely scenario for the next few days.
XRP is trading at $0.6151 at press time.
Tomiwabold Olajide
Gamza Khanzadaev
