u.today
Bulls are not strong enough to seize the initiative as the prices of most of the coins keep trading in the red zone, according to CoinStats.
$XRP/USD
The rate of $XRP has declined by 2.24% over the last day.
On the hourly chart, the price of $XRP has made a false breakout of the local support at $1.5428. If the daily bar closes far from that mark, traders can expect an ongoing upward move to the $1.60 range.
On the longer time frame, the rate of $XRP has not bounced back after a false breakout of the $1.5307 level. If the candle closes near that mark or below it, the accumulated energy might be enough for a further drop to the $1.50 zone.
From the midterm point of view, there are no reversal signals yet.
If the weekly bar closes below the interim level of $1.50, traders may witness a test of the $1.30-$1.40 area by the end of the month.
$XRP is trading at $1.55 at press time.