The last day of the week is bullish for the cryptocurrency market, according to CoinMarketCap.
XRP/USD
The rate of XRP has increased by 1.70% since yesterday. Over the last week, the price has risen by 9%.
Despite today’s rise, XRP is looking bearish on the hourly chart as its rate is falling after a false breakout of the resistance of $0.5357.
If the situation does not change by the end of the day, traders may expect a test of the $0.52 zone tomorrow.
Bulls could not seize the initiative after yesterday’s bullish candle closure. If the bar closes below the $0.53 mark, there is a chance to see a drop to the $0.51-$0.52 zone at the beginning of the next week.
A better picture is on the weekly chart, even though bulls have not seized the initiative yet from the midterm point of view. If the bar closes near $0.54, traders may witness consolidation in the zone of $0.55-$0.56 until the end of the month.
XRP is trading at $0.5254 at press time.
Read the full article here
