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The market is neutral on the first day of the weekend, second CoinStats.
XRP / USD
XRP lost a lot of value today, falling by 2.11%.
On the hourly chart, the XRP rate is approaching the local support of $2.2428. If the sellers’ pressure continues, we can expect a level breakdown followed by another drop to the $2.23-$2.24 area.
On the larger time frame, the daily bar is close to a bearish close.
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If this happens, the decline may lead to a test of the $2.10-$2.20 range. Such a scenario is relevant for the following week.
From the midterm point of view, the bears are also controlling the situation on the market. If the weekly bar closes around current prices, traders could witness a test of the $2 zone at the end of the month.
XRP is trading at $2.2596 at press time.
