Sellers are trying to seize the initiative at the beginning of the weekend, according to CoinMarketCap. Let's take a look at the current situation with XRP.
Cryptocurrency Market Overview
According to CoinMarketCap, leading cryptocurrencies are showing mixed trends in the market.
XRP Analysis on the Hourly Chart
Today, XRP has gained a lot of value, rocketing by 5.65%. On the hourly chart, the rate of XRP is trading near the local resistance of $0.6230. If the daily candle closes near that mark, the breakout may lead to a test of the $0.63 zone.
XRP Prospects on Larger Time Frames
On the bigger time frame, one should pay attention to the bar closure. If it happens near its peak, the upward move may continue to the resistance of $0.6580 next week. On the weekly chart, the price of XRP keeps trading far from its support and resistance levels. As neither side is dominating, ongoing sideways trading in the area of $0.60-$0.66 is the more likely scenario.
At press time, XRP is trading at $0.6237.
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