A new week has begun with an ongoing market correction, according to CoinMarketCap.

XRP/USD

The price of XRP has declined by 1.6% over the last 24 hours.

On the hourly chart, the rate of XRP is falling after a breakout of the support of $2. If the daily bar closes below that psychological mark, the decline is likely to continue to the $1.98 zone.

On the дщтпук time frame, the picture is also bearish as the price is coming back to the support of $1.9223.

If bulls cannot seize the initiative, the test of that level may happen by the end of the week.

From the midterm point of view, it is too early to make any distant predictions as the week has just started. In this case, traders should focus on the nearest area of $2. If the candle closes below it, an ongoing drop remains the more likely scenario.

XRP is trading at $1.9959 at press time.