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The weekend started bullish for most currencies, according to CoinMarketCap.
Ripple/USD
The price of XRP has increased by 1.11% in the past 24 hours.
Despite today's growth, XRP price looks bearish on the hourly chart. If there is a break through the local support, the decline is likely to continue to the $2.40 area by tomorrow.
On the larger time frame, the picture is also more bearish than bullish. XRP price made a false breakout of the recently formed resistance level at $2.4798.
Related to
If the daily bar closes away from that mark, one can expect a test of the $2.35 range soon.
From a mid-term perspective, the situation is neither bullish nor bearish. Trading volume declines, which confirms the lack of power of buyers and sellers. Overall, a sideways trade in the $2.30-$2.70 area is the most likely scenario.
XRP is trading at $2.4430 at press time.
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 responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
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