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 market has not decided which way to move yet as the prices of some coins are falling while others are growing, according to CoinStats.
XRP/USD
XRP has gained a lot of value today, rising by 4%.
On the hourly chart, the rate of XRP has set a local resistance level at $0.5247. If the daily bar closes near it, one can expect a breakout to the $0.53 zone tomorrow.
On the bigger time frame, one should pay attention to the candle’s closure. If it happens near the current prices, the upward move may continue to the $0.54 zone shortly.
From the midterm point of view, the rate of XRP has made a false breakout of the previous bar low at $0.4959.
If it closes above the $0.51-$0.52 zone, traders may expect sideways trading between $0.52 and $0.54 until mid-February.
XRP is trading at $0.5225 at press time.