Bulls are controlling the initiative on the market, according to CoinMarketCap.

XRP/USD

The rate of XRP has risen by almost 5% over the last 24 hours.

On the hourly chart, the price of XRP might have set a local resistance of $2.5980. If sellers’ pressure continues, one can expect a correction to the support level by tomorrow.

On the longer time frame, traders should focus on the nearest zone of $2.60. 

If the daily candle closes near it or above and with no long wick, there is a chance to see a test of the $2.70 range shortly.

From the midterm point of view, neither bulls nor bears are dominating. The price of XRP is within the previous bar, which means there are low chances of seeing sharp ups or downs.

XRP is trading at $2.5630 at press time.