The rate of XRP has increased by 2.2% since yesterday.
Image by TradingViewOn the hourly chart, the price of XRP is bearish as it is falling after a test of the local resistance level of $0.5923. If the situation does not change by the end of the day, traders are likely to witness a test of the support of $0.5857 soon.
Image by TradingViewOn the bigger time frame, the picture remains unclear as the rate is far from the key levels. In this case, any sharp moves are unlikely to happen soon.
All in all, consolidation in the area of $0.58-$0.60 is the more likely scenario.
Image by TradingViewFrom the midterm point of view, neither side is dominating. However, one should pay attention to the interim level of $0.55. If a breakout happens, the drop may continue to the $0.50 range.
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.
