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 market keeps going down; however, there are some exceptions to this rule.
Top coins by CoinMarketCap
XRP/USD
The rate of XRP has risen by 4.54% against the decline of other cryptocurrencies.
Image by TradingView
On the local chart, the price of XRP is fighting for a support level at $0.4399. If bears win and the bar closure happens below it, the fall is likely to continue to the zone of $0.4350.
Image by TradingView
A similar picture can be seen on the bigger time frame. The rate has bounced off the $0.46 zone, which means buyers are not ready yet to seize the initiative. If the situation does not change until the end of the day, traders may expect a fall to $0.4350 area shortly.
Image by TradingView
On the weekly chart, XRP remains weak as the price is located near the support level at $0.4101. If bulls cannot seize the initiative, the breakout may lead to a sharp drop to the $0.38-$0.40 zone.
XRP is trading at $0.4387 at press time.
Source: https://u.today/xrp-price-analysis-for-may-17