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Bulls keep controlling the situation on the last working day of the week, according to CoinMarketCap.
XRP/USD
The rate of XRP has gone up by 2% over the last 24 hours.
On the hourly chart, the price of XRP has set a local resistance of $3.0582. However, if the daily bar closes far from that level, sellers may seize the initiative, which may lead to a correction to the $3-$3.02 area.
On the longer time frame, the rate of XRP is more bullish than bearish as it is close to the resistance level. If bulls' pressure continues, one can expect a breakout, followed by a test of the $3.30 range.
From the midterm point of view, the price of XRP is in the middle of the channel, which means neither bulls nor bears have enough strength for a sharp move.
Thus, the volume is low, confirming the absence of buyers and sellers' energy. In this case, sideways trading in the range of $2.95-$3.15 is the most likely scenario.
XRP is trading at $3.0463 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team