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Bears have not accumulated enough energy yet to seize the initiative, according to CoinStats.
XRP/USD
XRP has gained a lot of value today, rocketing by more than 10%.
Despite the sharp rise, the price of XRP is going down after a false breakout of the local resistance of $1.62. If bulls cannot seize the initiative, one can expect a test of the support of $1.4692 by the end of the day.
A more positive picture is on the daily time frame.
Related
However, if today’s candle closes with a long wick and far from its peak, there is a possibility of a correction to the $1.30-$1.40 zone.
From the midterm point of view, one should wait until the weekly bar closes. If it happens near $1.60, the growth may continue to the $1.80 area.
XRP is trading at $1.5363 at press time.
