How long is decline of XRP going to last?
Most of the coins keep trading in the green zone, however, there are some exceptions from the rule.
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XRP/USD
The price of XRP has risen by 0.70% over the last 24 hours.
Image by TradingView
On the hourly chart, the rate of XPR has made a false breakout of the support level at $0.7084. Currently, one should pay attention to the daliy closure.
If it happens far from that mark, there is a chance to see a bounce back to the $0.7150 zone tomorrow.
Image by TradingView
On the bigger time frame, the situation remains unclear as the rate keeps trading sideways. If the decline continues below the $0.70 area, one can expect a test of the support at $0.6673 shortly. The falling volume confirms such a scenario.
Image by TradingView
From the mid-term point of view, traders should focus on the bar closure in terms of the previous candle low. If it happens below the $0.7125 mark, sellers might seize the initiative that can lead to the further correction to the area around $0.65.
XRP is trading at $0.7117 at press time.