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On the last day of the week, the cryptocurrency market is mostly trading sideways.
Top coins by CoinMarketCap
XRP/USD
The price of XRP has declined by 4% since yesterday.
Image by TradingView
Despite today’s decline, the rate of XRP is trying to reach the local resistance level at $0.7455. If buyers can hold the initiative until the end of the day, there is a chance to see a bounce back to the $0.76 area.
Image by TradingView
On the daily time frame, the situation remains unclear as the rate is far from the key levels.
However, if buyers lose the important zone of $0.70, the drop can continue to the nearest support shortly.
Image by TradingView
On the bigger chart, the price failed to keep rising, and there is a high chance to see a local correction. If the rate does not return to the $0.80 area soon, traders may expect a test of the support at $0.6570 soon.
XRP is trading at $0.7386 at press time.
Source: https://u.today/xrp-price-analysis-for-july-23