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Bears are getting back in the game, according to CoinMarketCap.
XRP/USD
XRP is one of the biggest gainers today, going up by 5.05%.
On the hourly chart, the rate of XRP is near the local resistance of $2.5650. If buyers can hold the gained initiative, growth may continue to the $2.60 zone.
On the bigger time frame, traders should focus on the daily bar's closure in terms of the $2.6461 level.
If the candle closes near that mark, the accumulated energy might be enough for a breakout, followed by a move to the $2.80-$3 range. Such a scenario is relevant until the end of the week.
From the midterm point of view, it is too early to make any distant predictions. However, If the weekly bar closes near $2.59, one can expect a test of the $3 mark soon.
XRP is trading at $2.5340 at press time.
Vladislav Sopov
Dan Burgin