The market has not decided yet which way to move as neither bulls nor bears have seized the initiative.
XRP/USD
The price of XRP is almost unchanged as it has only gone up 0.22%.
On the local chart, XRP has started to drop after the breakout of the $0.3287 level. Currently, there are no signals for a fast reversal as the bulls have not accumulated enough power.
The drop can stop if a false breakout of the support level at $0.3199 occurrs.
On the bigger time frame, XRP is coming back to the support level at $0.3199 against the high volume. If the closure happens around this mark, the ongoing fall may continue to the $0.3150 zone soon.
On the weekly chart, XRP is located closer to the support level than to the resistance, which means that there are more chances to see a further fall than local growth. The rise may happen only if bulls can return the price above the $0.34 mark and fix there.
XRP is trading at $0.3247 at press time.
Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.
Recommended Content
Editors’ Picks
Ripple wipes out weekly gains, experts comment on role of Ripple stablecoin
Ripple declined to $0.52 on Thursday, erasing all gains registered earlier this week. Ripple SVP Eric van Miltenburg’s comments on the firm’s stablecoin, and how it is expected to benefit the XRP Ledger and native token XRP have raised concerns among crypto experts.
Hedera HBAR slips nearly 10% after air is cleared on mistaken link with giant BlackRock
HBAR price is down nearly 10% on Thursday, partly erasing gains inspired by the misinterpreted link with BlackRock. Despite the recent correction, Hedera’s price is up 44% in the past seven days.
The reason behind Bonk’s 105% rise and if you should buy now Premium
Bonk price has shot up 105% in the past five weeks. A retracement into $0.0000216 or the $0.0000152 to $0.0000186 imbalance would be a good buying opportunity. Patient investors can expect double-digit gains from BONK that could extend up to 70%.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?