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The market has turned back to red again, according to CoinStats.

XRP/USD

The rate of XRP has fallen by 3.48% since yesterday.

On the hourly chart, the price of XRP is going up after setting a local support level of $2.9466. At the moment, one should focus on the vital zone of $3. If the daily bar closes above it, there is a possibility of an upward move to the $3.0631 mark soon.

On the bigger time frame, the rate of XRP is far from the key levels.

As neither side is dominating, ongoing sideways trading in the range of $2.90-$3.10 is the more likely scenario.

From the midterm point of view, the situation is similar. If the picture remains the same until the end of the week, traders are likely to witness consolidation in the area around $3 by mid-February.

XRP is trading at $2.9725 at press time.