According to CoinMarketCap, bulls have become weaker on the last day of the week. Let's review the current changes in the price of XRP and the forecasts for the near future.
Hourly Chart Analysis
The price of XRP has increased by 0.43% since the last updates. On the hourly chart, one should pay attention to the local level of $0.5868. If the daily candle closes below it, the decline is likely to continue to the $0.58 zone.
Midterm Dynamics
On the bigger time frame, the rate of XRP is trading within yesterday's candle. If buyers lose the interim level of $0.58, the drop may lead to a test of the $0.56 range within the next few days.
Forecast for the Coming Days
From the midterm point of view, the price is in the middle of the wide channel between the support of $0.5026 and the resistance of $0.6580. As neither side is dominating, ongoing sideways trading in the area of $0.55-$0.60 is the more likely scenario.
In the near future, the sideways trading for XRP in the $0.55-$0.60 range is expected to continue. At the time of writing, XRP is trading at $0.5859.
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