U.Today - The bulls' pressure continues on the market, according to CoinStats.
XRP/USD
The rate of XRP has risen by 0.51% since yesterday.
On the hourly chart, the price of XRP is in the middle of the narrow channel. However, if the rate returns to the interim zone of $2.46, the accumulated energy might be enough to touch the resistance of $2.4840 by tomorrow.
On the bigger time frame, the situation is quite similar. The rate of XRP does not have enough strength for a sharp move. Such a statement is confirmed by the falling volume.
All in all, sideways trading in the range of $2.20-$2.60 is the most likely scenario.
From the midterm point of view, none of the sides is dominating at the moment. If the weekly bar closes closer to the $2.50 mark or above, there is a chance to see a test of the local peak of $2.9092 by the end of the month.
XRP is trading at $2.4166 at press time.
This content was originally published on U.Today
