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.
Most of the coins have faced a correction, according to CoinStats.
XRP/USD
The price of XRP has gone down by 3.6%.
On the hourly chart, the price of XRP is trading below the local support of $0.5696. As long as the price is below the aforementioned level, the drop may continue to the $0.56 level by tomorrow.
On the higher time frame, there are no reversal signals yet. If the daily candle closes near its low, there is a chance of seeing an ongoing drop to the $0.55-$0.56 zone by the end of the week.
From the mid-term point of view, the picture remains unchanged. Neither buyers nor sellers have seized the initiative yet. The declining volume confirms such a statement.
Related
In this regard, ongoing sideways trading in the area of $0.52-$0.60 is the most likely scenario.
XRP is trading at $0.5687 at press time.
