Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The correction continues on the market, according to CoinMarketCap.
XRP/USD
XRP is one of the biggest losers today, falling by 9.68%.
On the hourly chart, the rate of XRP is in the middle of the local channel. As most of the daily ATR has been passed, there are low chances of seeing any sharp moves soon.
A less positive picture can be seen on the bigger time frame. At the moment, the price of XRP is closer to the support, which means that bears are more powerful than bulls.
On the weekly chart, traders should focus on the candle’s closure in terms of the level of $2.1743.
Related
If its breakout occurs, the drop is likely to continue to the $1.60-$1.80 range soon.
XRP is trading at $2.1822 at press time.