The market might have entered a correction phase, according to CoinMarketCap.
XRP/USD
XRP is one of the biggest losers today, falling by 11.48%.
On the hourly chart, the rate of XRP has bounced off the local support of $1.96. If buyers can hold the gained initiative, the rise may continue to the $2.30 area by tomorrow.
On the bigger time frame, the price of XRP has once again made a false breakout of the $2 area. If the daily bar closes far from that mark, there is a possibility to see a test of the $2.30-$2.40 range by the end of the week.
From the midterm point of view, one should wait until the weekly candle closes.
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If sellers' pressure continues and a breakout of the vital area of $2 occurs, the energy might be enough for a decline to the $1.60 area.
XRP is trading at $2.157 at press time.
