The bullish mood has mixed with the bearish one over the last day. Most of the Top 10 coins are now located in the green zone; however, there are also some gainers. Mainly, Bitcoin Cash (BCH) is rising by 5%.
As altcoins have been more volatile recently, the dominance rate of Bitcoin (BTC) has risen and now makes up 58.5%.
The relevant data for XRP looks the following way:
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Name: XRP
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Ticker: XRP
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Market Cap: $11,412,956,748
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Price: $0.252297
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Volume (24h): $1,928,290,513
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Change (24h): -2.17%
The data is relevant at press time.
XRP/USD: Can XRP grow against the sideways market?
Yesterday, buyers were unable to overcome the $0.260 resistance and sellers were trapped by an upward trend line.
On the chart, indicators are in the overbought zone and suggest an impending decline. Moreover, the support of $0.250 may not be able to withstand the bearish onslaught. Most likely, the price will drop to the POC line ($0.244).
On the 4H time frame, XRP is about to break the $0.2570 level. It is likely that the trading volume remains at a relatively high level.
In addition, the RSI indicator has formed a bullish divergence, having confirmed buyers' potential to keep pushing the rate of the altcoin higher. If bulls can fix above $0.26, the resistance at $0.2639 can be easily attained.
On the longer term, the situation is not so positive as XRP has not fixed above $0.26. The trading volume is going down against the rising price of the altcoin, which means that a correction is more likely than a drop on the long-term perspective. Thus, the cryptocurrency keeps trading in the falling channel. All in all, traders may expect to see XRP at the support level of $0.2390 soon.
XRP is trading at $0.2530 at press time.
