u.today
Bulls do not seem ready to keep the coins growing, according to CoinMarketCap data.
XRP/USD
XRP has followed the decline of Bitcoin (BTC), going down by 0.54%.
XRP/USD chart by TradingView" src="https://cnews24.ru/uploads/664/664689e385ca37b74e9d295908d0b56f45b17193.png" size="1818x857">
Despite today's drop, XRP is looking quite positive on the local time frame as the rate is trying to fix above the $0.38 mark. If bulls manage to do that, there is a high chance to see a breakout of the resistance followed by an impulse to the $0.3850 area.
XRP/USD chart by TradingView" src="https://cnews24.ru/uploads/a7f/a7f9b990bcb93f958deab7c05f928f4287bc01f3.png" size="1818x857">
On the daily chart, XRP might have entered an accumulation phase after the sharp drop. In this case, the more likely scenario is sideways trading in the narrow range of $0.38-$0.3850 so the altcoin could get more energy for a further move.
XRP/USD chart by TradingView" src="https://cnews24.ru/uploads/867/8676e88ca5e9d0dc31c4dbbf90f6a886bd9b7620.png" size="1818x800">
From the midterm point of view, the price is below the nearest support level at $0.3860, which means that there is a higher chance to see a further decline than a bounce back.
However, if a false breakout happens, bulls could seize the initiative and bring the rate back to the $0.40 area.
XRP is trading at $0.3829 at press time.