Amid the ongoing bullish control in the crypto market, XRP's price continues to rise, showing a 0.7% increase over the past day.
Current XRP Dynamics
On the hourly chart, the XRP rate has broken the local resistance level at $0.5450. If buyers can hold the initiative and the bar closes far from that mark, the upward move is likely to continue to the $0.56 range.
Technical Analysis on the Daily Chart
On the daily time frame, the price of XRP is again testing the $0.5524 level. If the candle closes around it or above, the energy might be enough for a test of the $0.56-$0.57 area until the end of the week.
Midterm Forecast for XRP
From the midterm point of view, XRP is not yet ready for sharp moves. As neither buyers nor bears have seized the initiative yet, ongoing sideways trading in the zone of $0.53-$0.57 is the more likely scenario.
XRP is currently trading at $0.5487. While short-term growth is possible, midterm scenarios suggest the likelihood of continued sideways trading.