mirror

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 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
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Buyers could not hold the initiative for long as <a href="https://u.today/worldcoin-wld-price-analysis-for-august-5" rel="noopener noreferrer nofollow">most of the coins</a> are in the red zone again. 
<img alt="Top 10 coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="b6a3f5bb-a6af-4623-9123-c4f94677139b" src="https://u.today/sites/default/files/inline-images/top10_582.png"> 
Top coins by&nbsp;<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
<h2 id="xrp-usd">XRP/USD</h2> 
The rate of XRP has risen by 0.28% over the last 24 hours. 
<img alt="XRP/USD chart by TradingView" data-entity-type="file" data-entity-uuid="7497fb62-dbdd-4e25-bdba-dc516e5adad8" src="https://u.today/sites/default/files/inline-images/xrp1_78.png"> 
Image by <a href="https://www.tradingview.com/symbols/XRPUSD" rel="noopener noreferrer nofollow">TradingView</a> 
Despite the slight rise, the rate of XRP is looking bearish on the local chart, as the price is about to fix below the support at $0.6265. If buyers cannot seize the initiative, the drop may continue to the $0.62 area tomorrow. 
<img alt="XRP/USD chart by TradingView" data-entity-type="file" data-entity-uuid="93bacfc9-58cb-48a0-8b53-fd8f7f09b44e" src="https://u.today/sites/default/files/inline-images/xrp2_72.png"> 
Image by <a href="https://www.tradingview.com/symbols/XRPUSD" rel="noopener noreferrer nofollow">TradingView</a> 
A similar situation is on the daily time frame, as the rate is returning to the level formed by a false breakout. If the price fixes below $0.6242, traders are likely to see a further downward move to the $0.59 area. 
Such a scenario is relevant until mid-August. 
<img alt="XRP/USD chart by TradingView" data-entity-type="file" data-entity-uuid="c817ecba-1880-4606-8933-6e6d9e61fe3c" src="https://u.today/sites/default/files/inline-images/xrp3_66.png"> 
Image by <a href="https://www.tradingview.com/symbols/XRPUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the weekly chart, one should pay attention to the mirror level at $0.5848. If a bounce back happens, buyers might locally seize the initiative, which could lead to a rise to the $0.65 range. 
XRP is trading at $0.6238 at press time.

XRP Price Analysis for August 6

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