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.
Bulls are coming back to the game after a few days of market drop, according to CoinMarketCap.
XRP/USD
The price of XRP has risen by 2.43% over the last 24 hours.
On the hourly chart, the rate of XRP is closer to the local support than to the resistance.
If buyers cannot seize the initiative by the end of the day, traders may expect a level breakout, followed by a test of the $2.12 area.
A bearish picture can also be seen on the daily time frame. If the candle closes around current prices or below, the accumulated energy might be enough for a support breakout, followed by a test of the $2.10 area.
From the midterm point of view, none of the sides is dominating. In this case, one should focus on the nearest zone of $2. If the bar closes below it, the decline may continue to the support of $1.7711.
XRP is trading at $2.1263 at press time.
Vladislav Sopov