Regardless of the ongoing bearish influence, certain coins are attempting to rebound and move back into the positive territory (green zone), as indicated by CoinMarketCap.
XRP/USD
Unlike other coins, the price of XRP has risen by 4% over the last day.
On the hourly chart, the price of XRP is currently situated near the midpoint of its local trending channel. Given that the majority of Average True Range (ATR) has already transpired, significant price fluctuations or sudden movements appear improbable in the immediate future.
On a larger scale, a comparable image emerges. The upward trend of XRP persists following yesterday’s bullish finish, but it’s crucial to focus on the present candlestick as well.
If it closes with a long wick, traders might not witness an ongoing upward move.
Looking at the mid-point in time, neither party seems to be clearly leading. But, if the week’s closing price hovers near the intermediate level of $2.50, there’s a possibility that growth could extend towards the $2.60-$2.80 range in the short term.
XRP is trading at $2.3936 at press time.
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2025-01-11 18:05