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The cryptocurrency market is going up today, according to CoinStats.
XRP/USD
The price of XRP has increased by 6.08% over the last day.
On the hourly chart, the rate of XRP is on its way to the local resistance of $2.4287. If its breakout happens, traders may expect a test of the $2.40 area shortly.
On the bigger time frame, the price of XRP is within yesterday's bar, which means none of the sides is dominating. In this case, there are low chances of seeing sharp moves soon.
Denys SerhiichukAll in all, sideways trading in the narrow range of $2.40-$2.60 is the most likely scenario.
From the midterm point of view, the situation is similar. The volume remains low, confirming the absence of bulls' or bears' energy. In this regard, one may witness consolidation in the zone of $2.20-$2.60 by mid-March.
XRP is trading at $2.4691 at press time.
Dan Burgin
Vladislav Sopov