Bulls have lost the initiative at the end of the week, according to CoinStats.
XRP chart by CoinStats
XRP/USD
The rate of XRP has dropped by 6.77% over the last 24 hours.
Image by TradingView
On the hourly chart, the price of XRP is falling after a breakout of the local support of $2. If sellers can hold the gained initiative, there is a possibility of a test of the $1.85-$1.90 range soon.
Image by TradingView
On the bigger time frame, the rate of XRP has broken the support of $2. While the rate is below that mark, traders may witness an ongoing decline to the $1.80 mark.
Image by TradingView
From the midterm point of view, there are also no reversal signals yet.
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If the price of XRP keeps going down, there is a high chance of a test of the support of $1.77 next week.
XRP is trading at $1.9414 at press time.
