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The correction might have ended on the cryptocurrency market as all of the top 10 coins are in the green zone.
XRP/USD
XRP is one of the biggest gainers today, rocketing by 7.18% over the last 24 hours.
On the hourly chart, the rate of XRP is in the middle of the local channel, getting energy for a further move. There are low chances to see either growth or a fall today as the altcoin has passed most of its ATR.
In this case, sideways trading in the area of $0.5150-$0.52 is the more likely scenario until tomorrow.
Despite today’s sharp rise, the rate of XRP is far from the resistance, which means it is too early to think about midterm growth. However, if the bar gets to the $0.55 zone and breaks it, one can expect an upward move to $0.58 soon.
A similar picture can be seen on the weekly time frame. Here, traders should pay attention to the level of $0.54915. If its breakout happens and the price fixes above it, the accumulated energy might be enough for a continued rise to the $0.60 zone.
XRP is trading at $0.5170 at press time.
About the author
Denys Serhiichuk