The price of XRP has decreased by 2.84% over the past 24 hours, in contrast to the growth seen across other digital assets. Let's take a closer look at the hourly, daily, and weekly charts to identify key trends and scenarios for future developments.
Hourly XRP Chart Analysis
On the hourly chart, the price of XRP is heading towards the local support level at $2.4312. If the daily candle closes below this mark, further decline to the $2.40 area is likely.
Daily Chart: Opportunities and Risks
On the larger time frame, bulls have struggled to maintain momentum after previous bullish closure. If the situation does not change by tomorrow, a test of the $2.30 mark by the end of the week can be expected.
Weekly Forecast
On the weekly chart, XRP's rate is far from key levels. If the picture remains the same, ongoing sideways trading within the wide range of $2.20-$2.60 is the most likely scenario.
The current trajectory of XRP suggests a potential decline despite the overall positive market sentiment. Attention should be given to crucial support and trend levels for a better understanding of future market movements.
