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Bulls have become weaker on the last day of the week, according to CoinMarketCap.
XRP/USD
The price of XRP has increased by 0.43% since yesterday.
On the hourly chart, one should pay attention to the local level of $0.5868. If the daily candle closes below it, the fall is likely to continue to the $0.58 zone.
On the bigger time frame, the rate of XRP is trading within yesterday's candle. If buyers lose the interim level of $0.58, the drop may lead to a test of the $0.56 range within the next few days.
From the midterm point of view, the price is in the middle of the wide channel between the support of $0.5026 and the resistance of $0.6580.
Denys SerhiichukAs neither side is dominating, ongoing sideways trading in the area of $0.55-$0.60 is the more likely scenario.
XRP is trading at $0.5859 at press time.
Dan Burgin
Vladislav Sopov