The market keeps setting new local peaks, according to CoinMarketCap.
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XRP/USD
The rate of XRP has risen by 0.52% over the last day.
Image by TradingView
On the hourly chart, the price of XRP is in the middle of the local channel, between the support of $2.41 and the resistance of $2.4799.
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As most of the daily ATR has been passed and the volume remains low, there are low chances of seeing sharp moves by tomorrow.
Image by TradingView
On the bigger time frame, the rate of XRP has made a false breakout of yesterday’s bar peak. If the candle closes far from the resistance, one can expect a correction to the $2.40 zone.
Image by TradingView
From the midterm point of view, traders should focus on the weekly bar’s closure in terms of the $2.59 level. Until the rate reaches it, sideways trading around the current prices is the more likely scenario.
XRP is trading at $2.4326 at press time.
