U.Today - Buyers could not hold today's rise until the end of the day, and most coins have returned to the red zone, according to CoinStats.
XRP chart by CoinStats
XRP/USD
The price of XRP has gone down by 1.55% since yesterday.
On the hourly chart, the rate of XRP is trading near the local support of $0.5485.
If buyers cannot seize the initiative until the end of the day, one can expect a breakout, followed by a move to the $0.54 zone.
On the bigger time frame, the picture is also bearish. If the daily bar closes near the support level of $0.5434, the accumulated energy might be enough for a dump to the $0.51-$0.52 range.
On the weekly chart, none of the sides has seized the initiative yet. If the situation remains the same, ongoing sideways trading in the area of $0.52-$0.60 is the more likely scenario.
XRP is trading at $0.5488 at press time.
This content was originally published on U.Today
