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.
The market is trading sideways today, according to CoinStats.
XRP/USD
The rate of XRP has declined by 0.39% since yesterday.
On the hourly time frame, the price has broken the support level of $0.5219. If buyers cannot seize the initiative soon, the drop is likely to continue to the $0.5150 zone soon.
On the bigger time frame, buyers need more time to accumulate energy for a further move. In this case, consolidation in the zone of $0.5150-$0.5250 is the more likely scenario for the next days.
A slightly better situation is on the weekly chart. However, it is early to think about a fast reversal as the rate is far from the main levels. All in all, one can expect sideways trading between $0.51 and $0.54 until the end of the month.
XRP is trading at $0.5206 at press time.
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya