Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bulls turned out to be more powerful than bears at the beginning of the weekend.

Top coins by CoinMarketCap


XRP has followed the rise of Bitcoin (BTC) and other coins, going up by 1%.

XRP/USD chart by TradingView

Despite today’s rise, it does not seem like XRP is going to grow as the price is slowly approaching the local support level at $0.5080.

If the situation does not change by the end of the day, the breakout might be a prerequisite for a sharp drop to the $0.50-$0.5050 zone.

XRP/USD chart by TradingView

The rate of XRP has not decided which way to go yet as the price is in the middle of the channel, accumulating energy for a further move. In this case, ongoing consolidation in the area of $0.50-$0.52 remains the more likely scenario for the next few days.

XRP/USD chart by TradingView

A similar situation is on the weekly time frame of XRP. The low volume confirms the fact that the coin does not have enough strength to grow or decline. However, if buyers can hold the price above the vital $0.50 mark, the local upward move may last to the $0.54 mark.

XRP is trading at $0.5092 at press time.

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