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 have failed to seize the initiative on the first day of the weekend, according to CoinStats.
XRP/USD
The rate of XRP has increased by 0.5% since yesterday.
On the hourly chart, the price of XRP is trading above the local resistance of $0.5307. If the situation does not change by the end of the day, the rise is likely to continue.
On the bigger time frame, the rate is far from the key levels. Even if the current bar closes bullish, buyers have not accumulated enough strength for a continued upward move. In this case, sideways trading in the zone of $0.52-$0.55 is the more likely scenario.
From the midterm point of view, neither bulls nor bears are dominating. Respectively, any sharp moves are unlikely to happen soon. All in all, traders may witness a consolidation in the zone of $0.50-$0.60 for the next days.
XRP is trading at $0.5321 at press time.
