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The market correction has not lasted long, according to CoinStats.
XRP/USD
The price of XRP has increased by 1.08% over the last day.
On the hourly chart, the rate of XRP is breaking the local support of $2.3189. If the daily bar closes below that mark, the drop may continue to test the $2.30-$2.31 zone soon.
On the bigger time frame, the rate of XRP has once again bounced off the resistance of $2.36.
If the bar closes around the current prices or below, the correction may lead to the test of the support within the next few days.
From the midterm point of view, one should focus on the weekly candle's closure in terms of the $2.2984 level. If it breaks out, the energy might be enough for an ongoing drop to the $2.20 range.
XRP is trading at $2.3205 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team