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Sellers keep pushing coins to new local lows, according to CoinStats.

XRP/USD

XRP could not withstand the fall of most of the coins, going down by almost 2%.

Despite today's fall, the rate of BTC is in the middle of the local channel, between the support of $0.4758 and the resistance of $0.4821. 

As most of the ATR has been passed, sideways trading in the area around $0.48 is the more likely scenario until tomorrow.

A worse picture can be seen on the daily time frame. Here, traders should pay attention to the bar's closure. If it happens below yesterday's low, the decline may lead to the test of the support of $0.4590 shortly.

On the weekly chart, bears are more powerful than bulls, as the rate has again declined below the vital zone of $0.50. If the drop continues to $0.46, the energy should be enough for a support breakout, followed by a downward move to the $0.44 zone.

XRP is trading at $0.4769 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].