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The cryptocurrency market is facing a bounce back at the end of the week, according to CoinStats.

XRP/USD

The price of XRP has almost not changed since yesterday.

On the hourly time frame, the rate of XRP has once again touched the support of $0.5032. In case of a breakout, there is a chance to see a test of the $0.5020 zone soon.

On the daily chart, the price has made a false breakout of yesterday's candle peak. If the bar closes near its low, traders may witness an ongoing drop to $0.50 next week.

From the midterm point of view, buyers have failed to maintain the rise after the previous bullish bar.

In this regard, a test of the nearest support level of $0.4780 is likely to occur.

XRP is trading at $0.5033 at press time.