The rate of XRP has declined by 4.24% over the last 24 hours.
Image by TradingViewOn the hourly chart, the price of XRP is in the middle of a local channel, between the support of $0.5930 and the resistance of $0.6160.
As most of the daily ATR has been passed, there are low chances to expect any sharp moves today.
Image by TradingViewOn the bigger time frame, the situation is rather more bearish than bullish. One should pay attention to the daily bar closure in terms of yesterday’s bar low. If it happens below $0.60, the drop is likely to continue to the $0.57-$0.58 zone.
Image by TradingViewFrom the midterm point of view, the rate is far from key levels, which means one should not expect any sharp moves. In this case, sideways trading in the area of $0.58-$0.62 is the more likely scenario for the next few days.
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.
