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Sellers remain more powerful than buyers, according to CoinStats.

XRP/USD

The price of XRP has dropped by 1.72% since yesterday.

On the hourly chart, the rate of XRP might have found a local support of $2.2342. If the daily bar closes around the current prices, one can expect a test of the $2.32-$2.34 range by tomorrow.

On the bigger time frame, traders should pay attention to the nearest interim area of $2.20. If its breakout happens, the correction is likely to continue to the $2 zone shortly.

From the midterm point of view, the price of XRP is in the middle of a wide channel. As none of the sides is dominating, there are low chances to see sharp moves soon.

In this case, traders may expect sideways trading in the zone of $2.00-$2.50.

XRP is trading at $2.3186 at press time.