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Most of the coins are in the red zone on the first day of September, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 1.73% over the last day.
On the hourly chart, the price of XRP is going down after a false breakout of the local resistance of $2.8270. If sellers' pressure continues, there is a chance of a test of $2.70 by tomorrow.
On the bigger time frame, there are no reversal signals yet. If a breakout of the support happens, the accumulated energy might be enough for a further decline to the $2.60 area.
From the midterm point of view, one should focus on the weekly candle closure in terms of the $2.7280 level.
If the bar closes below that mark, traders may witness a test of the $2.60-$2.70 range soon.
XRP is trading at $2.7772 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team