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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.
Bulls are trying to hold the gained initiative after a market drop, according to CoinMarketCap.
Unlike most other cryptocurrencies, the rate of XRP has fallen by 0.40% since yesterday.
However, on the hourly chart, the price of XRP is looking bullish as it is trying to break the resistance of $0.5789. If it happens, the growth is likely to continue to the $0.5850 zone soon.
On the bigger time frame, the rate of XRP has made a false breakout of yesterday’s bar low at $0.5669. If the candle closes far from that mark, there is a chance to see a test of the $0.60-$0.62 area by the end of the week.
From the midterm point of view, none of the sides is dominating at the moment, as the rate is in middle of a wide channel, between the support of $0.4590 and the resistance of $0.7329.
In this case, ongoing sideways trading in the zone of $0.55-$0.65 is the more likely scenario.
XRP is trading at $0.5928 at press time.