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There are no reversal signals on the market so far, according to CoinMarketCap.
XRP/USD
The rate of XRP keeps rising, going up by 6.6% over the last 24 hours.
On the hourly chart, the price of XRP is growing after a false breakout of the local support of $0.5984. If buyers can hold the gained initiative, the upward move may lead to resistance, followed by its breakout.
On the bigger time frame, one should pay attention to the nearest level of $0.6342. If the daily bar closes near it or above, the accumulated energy might be enough for a test of the $0.66 zone soon. Such a scenario is relevant until the end of the week.
From the midterm point of view, the price of XRP remains in the middle of a wide channel, between the support of $0.4226 and the resistance of $0.7430. As none of the sides has seized the initiative yet, ongoing sideways trading is the more likely scenario.
XRP is trading at $0.6143 at press time.
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya