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.
The weekend has started with a market fall, according to CoinMarketCap.
XRP/USD
The rate of XRP has fallen by 1.45% over the last day.
On the hourly chart, the price of XRP is looking bearish as it is on the way to the local support of $2.98. If a breakout happens and the daily bar closes below it, the correction is likely to continue to the $2.95 zone.
On the bigger time frame, the situation is also more bearish than bullish. If the bar closes below yesterday's candle low, the accumulated energy might be enough for a test of the support of $2.9337 by the end of the week.
From the midterm point of view, the rate of XRP is far from the key levels. The volume is low, which means neither side is ready to seize the initiative.
In this case, consolidation in the area of $2.90-$3.10 is the more likely scenario.
XRP is trading at $2.9795 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team