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XRP/USD
XRP is one of the biggest losers today, falling by 8.22%.
On the hourly chart, the rate of XRP is closer to the resistance than to the support level. However, most of the ATR has been passed. In this case, there are low chances of any sharp moves by the end of the day.
On the bigger time frame, the price of XRP has made a false breakout of the support level of $2.2011.
If the candle closes far from it, traders may witness a bounce back to the $2.60 zone shortly.
From the midterm point of view, one should pay attention to the weekly bar's closure in terms of the $2.35 level. If its false breakout happens and the candle closes with a long wick, bears may seize the initiative, which may lead to a correction to the $2 zone.
XRP is trading at $2.3575 at press time.
This content was originally published on U.Today
