At the start of the weekend, most cryptocurrencies are in the red, while XRP stands out with a 3% rise.
Overall Cryptocurrency Dynamics
Currently, many cryptocurrencies are showing negative trends, according to CoinStats, indicating a general decline in the market affecting most digital assets.
XRP Price Analysis
XRP has shown a growth of 3% over the last 24 hours. However, the hourly chart indicates a bearish tendency as the price approaches the support level of $2.7558. If the daily bar closes below this level, traders might anticipate a test of the $2.70 range.
Future Prospects for XRP
From a broader perspective, it is important to focus on the nearest support level at $2.6461. Should the price remain above this mark, bulls retain an edge over bears, potentially leading to an upward move towards the $3 area. In the midterm, XRP fluctuates within a wide channel between support at $1.7711 and resistance at $3.40.
Despite the overall decline in the cryptocurrency market, XRP shows positive dynamics. The further development of events depends on maintaining the support level and traders' reactions to current trends.