Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The market has not decided which way to move yet, according to CoinStats.

XRP/USD

The rate of XRP has increased by 0.19% since yesterday.

On the hourly chart, the price of XRP is near the resistance, which means that buyers are more powerful than sellers. However, one should wait until the bar closes.

If bulls can hold the initiative, the breakout of the $0.5522 level might be a prerequisite for a further rise to the $0.56 area.

On the bigger time frame, sideways trading is the more likely scenario. But if buyers lose the $0.54 mark, the fall may lead to a test of the $0.52 zone shortly.

From the midterm point of view, any ups or downs are unlikely to happen next week as the rate is far from the key levels. In this regard, an ongoing consolidation in the area of $0.52-$0.59 is the more likely scenario.

XRP is trading at $0.5487 at press time.