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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.
The market might have entered a sideways trend, according to CoinMarketCap.
The rate of XRP has increased by 1.81% over the last 24 hours.
On the hourly chart, the price of XRP is looking bullish as it is approaching the resistance of $0.5730. If the daily bar closes around that mark, there is a chance to see a breakout, followed by a blast to the $0.5750-$0.58 zone.
On the bigger time frame, the growth of XRP continues. However, the price is far from the resistance level of $0.5776. If buyers want to keep the midterm rise going, they need to return the rate above the mentioned mark.
If that happens, the accumulated energy might be enough for a test of the $0.59-$0.60 area.
From the midterm point of view, it is too early to make any predictions, as a few days remain until the bar’s closure. However, if the candle closes above $0.58, traders may witness a continued rise to the $0.60 mark.
XRP is trading at $0.5710 at press time.