Buyers have failed to keep the weekend’s rise, according to CoinStats.
XRP chart by CoinStats
XRP/USD
The price of XRP has dropped by 0.47% since yesterday.
Image by TradingViewOn the hourly chart, the rate of XRP is closer to the local support level than to the resistance. If the situation does not change, one can expect a level breakout, followed by a move to $0.52.
Image by TradingViewOn the bigger time frame, the price of the altcoin is falling after a failed attempt to fix above the $0.53 mark. If buyers cannot seize the initiative by the end of the day, the correction may lead to a test of the $0.51 area soon.
Image by TradingViewFrom the midterm point of view, it is too early to make any distant price projections, as only a few days remain until the candle’s closure.
In this regard, ongoing sideways trading in the wide range of $0.50-$0.54 is the more likely scenario.
XRP is trading at $0.5235 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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