Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
The local decline might have ended on the cryptocurrency market, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
XRP/USD
XRP is one of the least growing coins today, going up by only 2.08%.
Image by TradingView
On the local chart, the price of XRP is trading in the middle of the local channel, between the support at $0.49 and the resistance at $0.5030. If the daily bar closes near $0.50 or above that mark, one can expect a blast to the $0.51 zone until the end of the week.
Image by TradingView
On the daily time frame, the price of XRP has tested the interim mark of $0.50. If the false breakout of it happens and the bar closes far from it, traders are likely to see a local drop to the $0.4950 zone. Such a scenario is relevant until the end of the month.
Image by TradingView
Neither bulls nor bears are dominating on the weekly chart as the rate is in the middle of a wide channel. This means that none of the sides has accumulated enough strength to seize the initiative. In this case, one can expect ongoing consolidation in the area of $0.47-$0.51 for the next few weeks.
XRP is trading at $0.4969 at press time.
Source: https://u.today/xrp-price-analysis-for-june-21