Bulls are trying to seize the initiative at the end of the day, according to CoinStats.
XRP/USD
XRP has gained a lot of value today, rising by 1.13%.
On the hourly chart, the rate of XRP is trying to return to the local resistance of $2.18. If buyers’ pressure continues, one can expect a level breakout, followed by a move to the $2.20 range.
On the bigger time frame, the price is within yesterday’s bar, which means neither side has seized the initiative.
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In this case, sideways trading in the area of $2.10-$2.20 is the more likely scenario.
On the weekly chart, one should focus on the candle closure in terms of the support of $2.0594. If a breakout happens, the accumulated energy might be enough for a test of the vital $2 zone and below.
XRP is trading at $2.1682 at press time.