u.today
Bulls are losing initiative on the last day of the week, according to CoinMarketCap.
$XRP/USD
The price of $XRP has declined by 4% over the last day.
On the hourly chart, the rate of $XRP has made a false breakout of the local support of $3.1618. If the daily bar closes far from that mark, one can expect a bounce off to the $3.25 zone.
On the bigger time frame, the price of $XRP keeps going down after a failed attempt to fix above the $3.3338 level.
As there are no reversal signals yet, ongoing correction remains the more likely scenario.
From the midterm point of view, neither side is dominating as the rate of $XRP is far from the support and resistance levels. The volume has dropped, which means traders may expect continued sideways trading in the range of $3-$3.20 within the next week.
$XRP is trading at $3.1947 at press time.