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A correction has arrived on the crypto market, according to CoinStats.

XRP/USD

The rate of XRP has fallen by 2.89% since yesterday.

On the hourly chart, the price of XRP is declining after a breakout of the support of $0.5163. If the daily bar closes far from that mark, the drop is likely to continue to the $0.50 area.

On the bigger time frame, the rate is coming back to the support of $0.4929. 

If buyers lose the $0.50 mark, the accumulated energy might be enough for a dump to the $0.48-$0.49 range soon.

From the midterm point of view, it is too early to make any distant predictions. However, if the drop of XRP continues from the current prices, traders may witness a test of $0.48.

XRP is trading at $0.5097 at press time.