The correction continues on the cryptocurrency market, according to CoinMarketCap.
Top coins by CoinMarketCap
XRP/USD
The rate of XRP has declined by 0.61% over the last 24 hours.
Image by TradingViewOn the hourly chart, the price of XRP keeps falling as it is testing the local support level of $0.4835. If the daily bar closes near this mark or below it, the drop is likely to continue to the $0.48 zone.
Image by TradingViewOn the daily time frame, the picture is also bearish. The rise has returned to the level formed by the false breakout.
If buyers cannot seize the initiative, the accumulated energy might be enough for a dump to $0.46. Such a scenario is relevant until the end of the week.
Image by TradingViewFrom the midterm point of view, one should pay attention to the vital zone of $0.50. If the weekly candle closes far from it, there is a high chance to see a test of the $0.40 area until the end of the month.
XRP is trading at $0.4837 at press time.
About the author
Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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