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Most of the coins have failed to maintain yesterday’s rise, according to CoinMarketCap.
XRP/USD
The rate of XRP has dropped by 1.84% over the last 24 hours.
On the hourly chart, the price of XRP is in the middle of the local channel, between the support of $3.0937 and the resistance of $3.1360.
Related
As neither side is dominating, any sharp moves are unlikely to happen by the end of the day.
On the bigger time frame, the situation is similar. The volume is low, confirming the absence of buyers’ and sellers’ power. In this case, ongoing sideways trading in the range of $3-$3.20 is the more likely scenario.
From the midterm point of view, traders should focus on the weekly candle closure in terms of its peak. If it happens near $3.40, there is a chance of a test of the $3.6-$3.8 area soon.
XRP is trading at $3.1083 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
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.
