Sat, 6/07/2024 – 12:47
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The market might have found a local deep, according to CoinStats.
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XRP/USD
The price of XRP has increased by 8.23% over the last 24 hours.
On the hourly chart, one should pay attention to the local level of $0.4316. If the daily bar closes above it and with no long wick, the rise may continue to the $0.44-$0.45 area soon.
On the daily time frame, the price of XRP is far from the main levels, which means neither side is dominating. Thus, the volume remains low.
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All in all, sideways trading in the area of $0.42-$0.44 is the more likely scenario for the next days.
A similar case is on the weekly chart. The rate is in the middle of the wide channel, getting energy for a further sharp move. In this case, any ups or downs are unlikely to happen soon.
XRP is trading at $0.4335 at press time.
