The market remains mainly bullish today, according to CoinStats.
XRP/USD
The price of XRP has gone up by 4.65% since yesterday.
On the hourly chart, the rate of XRP is accumulating energy for a further move. As neither side is dominating, ongoing sideways trading in the narrow range of $2.54-$2.60 is the more likely scenario.
On the daily time frame, the price is far from the main levels. In this case, any sharp ups or downs are unlikely to happen soon.
In this regard, traders may expect consolidation in the zone of $2.4-$2.7 for the next few days.
From the midterm point of view, one should focus on the weekly candle closure in terms of its peak. If it happens with a long wick, sellers may locally seize the initiative, which may lead to a decline to the $2 area.
XRP is trading at $2.5523 at press time.
