Bears remain more powreful than bulls, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 4.24% over the last 24 hours.
In the hourly timeframe, XRP‘s price sits comfortably within its current range. It receives equal pressure from the underlying support at $0.5930 and the resistance level at $0.6160.
As most of the daily ATR has been passed, there are low chances to expect any sharp moves today.
Looking at the larger picture, the outlook for this situation is more pessimistic than optimistic. It’s important to keep an eye on the daily closing price in relation to the previous day’s low. If it falls below $0.60, then the downward trend may persist, potentially reaching the $0.57-$0.58 range.
Looking at the midterm perspective, the rate hasn’t approached significant thresholds yet. As a result, it’s unlikely that we’ll witness any major price swings in the near future. Instead, expect sideways trading between $0.58 and $0.62 over the next few days.
XRP is trading at $0.60298 at press time.
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2024-04-10 18:36