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Can the decline of XRP lead to a test of the $1.20 zone soon?
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The market is trying to come back to the green zone, according to CoinMarketCap.
XRP/USD
The rate of XRP has risen by 2.04% over the last 24 hours.
On the hourly chart, the price of XRP is falling after setting local resistance at $1.4082. If bulls cannot seize the initiative, one should expect a test of the support by tomorrow.
On the longer time frame, none of the sides is dominating, as the rate of XRP is far from the main levels.
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The volume remains low, which means sideways trading around the current prices is the most likely scenario until the end of the week.
From the midterm point of view, the situation is similar. The price of XRP is in the middle of the wide channel, between the support at $1.1371 and the resistance at $1.8209. All in all, traders may expect ongoing consolidation in the zone of $1.20-$1.50 for the rest of the month.
XRP is trading at $1.3840 at press time.
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