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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.
Buyers are trying to be back in the game, according to CoinStats.
The rate of XRP has increased by 2.2% since yesterday.
On the hourly chart, the price of XRP is bearish as it is falling after a test of the local resistance level of $0.5923. If the situation does not change by the end of the day, traders are likely to witness a test of the support of $0.5857 soon.
On the bigger time frame, the picture remains unclear as the rate is far from the key levels. In this case, any sharp moves are unlikely to happen soon.
All in all, consolidation in the area of $0.58-$0.60 is the more likely scenario.
From the midterm point of view, neither side is dominating. However, one should pay attention to the interim level of $0.55. If a breakout happens, the drop may continue to the $0.50 range.
XRP is trading at $0.5883 at press time.