Fri, 31/05/2024 – 14:40
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Buyers are still unable to seize the initiative, according to CoinMarketCap.
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XRP/USD
The price of XRP has declined by 0.64% over the last 24 hours.
On the hourly chart, the rate of XRP has broken the local support level of $0.5165. The volume has increased, which means there is a good chance to expect a more profound decrease.
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In this case, traders may witness a test of the $0.51 zone on the weekend.
On the daily time frame, the price is its the way to the support level of $0.5064. If the bar closes below that mark, the accumulated strength might be enough for a further drop to the $0.48-$0.49 area.
Bears are also more powerful than bulls on the weekly chart. Buyers could not keep the rise after the previous candle. If they lose the vital zone of $0.50, one can expect a test of the nearest support of $0.4309.
XRP is trading at $0.5162 at press time.
