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Can traders expect XRP to test the $1.20 zone soon?
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The market growth has not lasted long, and most of the coins are in the red zone again, according to CoinMarketCap.
XRP/USD
The price of XRP has declined by 1.5% over the last 24 hours.
On the hourly chart, the rate of XRP is on its way to the local resistance at $1.4547. If buyers’ pressure continues, one can expect a test of the $1.47 zone by tomorrow.
On the longer time frame, the price of XRP has made a false breakout of the support at $1.3858.
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At the moment, the rate of the altcoin is far from the main levels, which means sideways trading in the range of $1.40-$1.45 is the most likely scenario over the next few days.
From the midterm point of view, sellers’ pressure remains relevant. If the weekly bar closes near the support at $1.2543, the correction is likely to continue to the $1.20 zone.
XRP is trading at $1.4248 at press time.
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