The bulls’ dominance has not lasted long, and most of the coins are again in the red zone, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 3.35% since yesterday.
On the hourly chart, the price of XRP is near the local support of $3.05. If the bounce back does not happen until the end of the day, one can expect a level breakout, followed by a further correction to the $3.02 mark.
On the bigger time frame, the price is far from the main levels. In this case, one should focus on the nearest zone of $3.
If the daily bar closes near it or below, the accumulated energy might be enough for a test of the $2.80 range soon.
From the midterm point of view, traders should pay attention to the weekly candle’s closure. If it happens far from its peak and with a long wick, bears may seize the initiative, which may lead to a drop to the $2.60-$2.80 area.
XRP is trading at $3.0875 at press time.
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