Sellers’ pressure remains relevant in the second part of the week, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 1.54% over the last 24 hours.
On the hourly chart, the price of XRP is in the middle of the local channel, between the support of $2.7860 and the resistance of $2.8674. As most of the daily ATR has passed, there are low chances of seeing sharp moves by tomorrow.
On the longer time frame, the situation is similar. The volume keeps going down, which means traders might not witness increased volatility.
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In this case, sideways trading in the range of $2.80-$2.90 is the most likely scenario until the end of the week.
From the midterm point of view, one should focus on the candle’s closure in terms of the previous bar’s low. If it happens below $2.80, one can expect a test of the support of $2.6975 soon.
XRP is trading at $2.8239 at press time.