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.
Most of the coins are in the red zone on the last day of the week, according to CoinStats.
XRP/USD
The price of XRP has fallen by almost 4% over the last 24 hours.
On the hourly chart, the rate of XRP is near the local support of $3. As most of the daily ATR has been passed, any sharp moves are unlikely to happen by the end of the day.
However, if a bounce back from the current prices does not happen, the fall may continue to the $2.95 zone soon.
On the bigger time frame, the price of XRP is going down after a false breakout of the resistance of $3.1560. If bulls cannot seize the initiative, the decline is likely to continue to the $2.90-$2.95 range.
From the midterm point of view, neither side is dominating as the rate of XRP is far from the support and resistance levels. The volume is low, which means neither side has enough energy for a further sharp move. All in all, consolidation around the current prices is the more likely scenario.
XRP is trading at $3.032 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team