Sellers remain more powerful than buyers, according to CoinStats.
XRP/USD
The price of XRP has dropped by 1.72% since yesterday.
On an hourly basis, it seems like the price of XRP may have established a temporary floor at approximately $2.2342. Should today’s daily bar end near its current level, we could see a potential challenge of the $2.32 to $2.34 price range by tomorrow.
Looking at a larger time span, traders ought to keep an eye on the upcoming intermediate zone around $2.20. Should it break, a continuation towards the $2 area for potential correction seems probable.
Looking at the midpoint, the cost of XRP seems to be right in the midst of a broad range. Since neither side appears to have control, it’s unlikely we’ll see significant shifts or sudden movements anytime soon.
In this case, traders may expect sideways trading in the zone of $2.00-$2.50.
XRP is trading at $2.3186 at press time.
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2025-01-09 18:49