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Bulls are controlling the situation on the market, according to CoinStats.
XRP/USD
The price of XRP has risen by 3.26% since yesterday.
On the hourly chart, the rate of XRP is in the middle of the local channel, between the support of $0.5140 and the resistance of $0.5426.
Denys SerhiichukAs most of the daily ATP has been passed, there are low chances of any sharp moves by the end of the day.
On the bigger time frame, the picture is unclear. Even if today's bar closes bullish, the price of XRP might need more time to accumulate energy for a further move. In this case, sideways trading in the area of $0.52-$0.54 is the more likely scenario.
From the midterm point of view, none of the sides is dominating. If the weekly candle closes around the current prices, traders may witness ongoing consolidation in the range of $0.50-$0.56.
XRP is trading at $0.5315 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team