The market drop has not lasted long, and most of the coins are back to the green zone, according to CoinMarketCap.
Top coins by CoinMarketCap
XRP/USD
The rate of XRP has declined by 1% over the last day.
Image by TradingView
On the hourly chart, the price of XRP is breaking the local support of $2.3365. If a breakout happens, the decline is likely to continue to the $2.32 zone soon.
Image by TradingView
A bearish picture can also be seen on the bigger time frame. In this case, traders should focus on the bar’s closure in terms of the $2.2845 level.
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If the candle closes below it, one can expect a test of the $2.25 area by the end of the week.
Image by TradingView
From the midterm point of view, the price of XRP is falling after a false breakout of the resistance of $2.59. If bulls cannot seize the initiative and the candle closes far from that level, the correction may lead to the test of the $2-$2.20 range.
XRP is trading at $2.3295 at press time.
