The situation is almost unchanged since yesterday as most of the coins are in the red zone, according to CoinMarketCap.
Top coins by CoinMarketCap
XRP/USD
The rate of XRP has fallen by 0.62% over the last 24 hours.
Image by TradingViewOn the hourly chart, the price of XRP might have set a local support level of $0.4780. If the daily bar closes near $0.50 or above it, there is a chance to see a resistance breakout, followed by a move to the $0.51 zone.
Image by TradingViewOn the bigger time frame, one should pay attention to the candle’s closure in terms of yesterday’s bar’s low.
If it happens far from it, bulls may seize the initiative, which can lead to growth to the $0.50-$0.52 zone by the end of the week.
Image by TradingViewFrom the midterm point of view, it is too early to make any predictions as the rate is far from the main levels. In this case, ongoing sideways trading in the range of $0.46-$0.54 is the more likely scenario until mid-May.
XRP is trading at $0.4966 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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