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The correction on the market might have ended as the rates of most coins are blasting, according to CoinStats.
XRP/USD
The price of XRP has gone up by 5.65% since yesterday.
On the hourly chart, the rate of XRP has made a false breakout of the local resistance level. If the daily bar closes far from it, one can expect a rollback to the $0.5350-$0.54 zone.
On the bigger time frame, the price keeps rising after yesterday's bullish closure. However, the rate of XRP needs more time to accumuate energy for an ongoing rise.
Denys SerhiichukIn this case, sideways trading in the zone of $0.53-$0.55 is the more likely scenario for the next few days.
From the midterm point of view, buyers need to hold the gained initiative until the end of the week. If they manage to do that and the bar closes near $0.55, there is a chance to see a test of the resistance of $0.5714 soon.
XRP is trading at $0.5414 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin