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The prices of most of the coins are going down today, according to CoinMarketCap.
XRP/USD
The rate of XRP has gone down by 0.08% over the last 24 hours.
On the hourly chart, the price of XRP is rising after a false breakout of the local support of $2.2736. If the daily bar closes near the resistance or above, one can expect a test of the $2.35 area by the end of the week.
On the bigger time frame, the rate of XRP has once again bounced off the support of $2.26. Even if the candle closes around the current prices or above, buyers might need more time to accumulate energy for a further move.
In this case, sideways trading in the range of $2.30-$2.35 is the most likely scenario.
From the midterm point of view, one should focus on the weekly candle's closure in terms of the formed support of $2.26. If the bar closes far from that mark, traders may expect a bounce back.
XRP is trading at $2.3016 at press time.
Vladislav Sopov
U.Today Editorial Team