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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.
Alex Dovbnya
