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Bears are becoming more powerful, according to CoinMarketCap.
XRP/USD
The rate of XRP has fallen by 0.73% over the last 24 hours.
On the hourly chart, the price of XRP has made a false breakout of the local support level of $0.5231. If the daily bar closes far from that mark, traders may witness a bounce back to the resistance by tomorrow.
On the bigger time frame, the rate of XRP keeps falling. However, one should pay attention to the candle's closure.
Denys SerhiichukIf it happens far from its low, there is a chance to see a reversal, followed by a move to the $0.5350-$0.54 area.
A less positive picture can be seen on the weekly chart. If the bar closes around current prices, the accumulated energy might be enough for a test of the support level of $0.5026 soon.
XRP is trading at $0.5282 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin