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.
The correction has not lasted long, and most of the coins have come back to the green zone, according to CoinMarketCap.
XRP/USD
The rate of XRP has increased by 6.12% over the last day.
On the hourly chart, the price of XRP is closer to the resistance than to the support level. If buyers' pressure continues, growth may lead to a test of the $1.48-$1.50 area by tomorrow.
On the bigger time frame, the picture is quite similar, even though the rate of XRP keeps accumulating energy. Sideways trading is also confirmed by the falling volume.
Denys SerhiichukIf the breakout of the $1.50 level happens, the accumulated energy might be enough for a move to the $1.60 mark.
From the midterm point of view, none of the sides is dominating, as the price of XRP is within the previous weekly bar. If nothing changes, ongoing consolidation in the range of $1.30-$1.60 is the more likely scenario.
XRP is trading at $1.42 at press time.
Alex Dovbnya
Gamza Khanzadaev
Dan Burgin
Vladislav Sopov