Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Buyers are still powerful despite sellers' pressure, according to CoinStats.

XRP/USD

The rate of XRP has fallen by 0.29% since yesterday.

On the hourly chart, the price of XRP is also bearish as it is trading near the local support of $0.6222. If no bounce back happens by the end of the day, the correction may continue to the $0.61 zone soon.

On the bigger time frame, sellers are also more powerful than buyers. If bulls lose the vital zone of $0.60, there is a possibility of a test of the $0.55-$0.58 area the upcoming week.

From the midterm point of view, sideways trading remains the more likely scenario as neither side has accumulated enough energy for a further sharp move.

In this regard, traders may witness consolidation between $0.60 and $0.65 soon.

XRP is trading at $0.6244 at press time.