The correction continues on the cryptocurrency market, according to CoinMarketCap.
XRP/USD
The rate of XRP has declined by 0.61% over the last 24 hours.
Every hour on the chart, XRP‘s price is declining and currently challenging its underlying support at approximately $0.4835. Should the daily bar finish around or beneath this point, the downward trend may persist towards the $0.48 support area.
In simpler terms, the daily chart shows a negative trend as the price has retreated back to its previous false peak.
If buyers fail to take control, the price could drop as low as $0.46 by the end of the week due to the built-up market pressure.
Looking at the mid-term perspective, it’s important to focus on the significant range around $0.50. If the weekly chart ends noticeably away from this zone, there’s a strong likelihood that the price will revisit the $0.40 level before the month is over.
XRP is trading at $0.4837 at press time.
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2024-04-17 19:01