The market might have found a local deep, according to CoinStats.
XRP chart by CoinStats
XRP/USD
The price of XRP has increased by 8.23% over the last 24 hours.
Image by TradingViewOn the hourly chart, one should pay attention to the local level of $0.4316. If the daily bar closes above it and with no long wick, the rise may continue to the $0.44-$0.45 area soon.
Image by TradingViewOn the daily time frame, the price of XRP is far from the main levels, which means neither side is dominating. Thus, the volume remains low.
All in all, sideways trading in the area of $0.42-$0.44 is the more likely scenario for the next days.
Image by TradingViewA similar case is on the weekly chart. The rate is in the middle of the wide channel, getting energy for a further sharp move. In this case, any ups or downs are unlikely to happen soon.
XRP is trading at $0.4335 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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