The cryptocurrency market keeps rising after gaining fuel over the weekend. All of the top 10 coins are in the green zone while Ethereum remains the top gainer.
The market capitalization has significantly increased over the past day. Currently, it is $269.6 Bln.
The relevant data for XRP is below.
Market Cap: $8,354,750,285
Volume (24h): $1,170,777,945
Change (24h): 0.92%
The data is relevant at press time.
XRP/USD: Trying to withstand bearish pressure
Yesterday, buyers failed to generate strong bullish momentum. The XRP/USD pair barely overcame the resistance at $0.19, setting a daily maximum at $0.191.
In the Asian session, XRP returned below the two-hour EMA55. Today the pair will try to maintain its positions in the lateral range at the level of average prices.
On the 4H time frame, XRP is growing against declining trading volume, which indicates a bounce off before a continued decline rather than the start of a new bull run. Moreover, the liquidity level is very low in the current area. In this case, traders can expect a rise to around $0.1950 followed by a further price drop.
On the daily chart, nothing has changed yet. Bears have been dominating for a long time without any significant bull resistance. Trading is taking place within a falling channel with no volume support. Respectively, a more likely price scenario is an upcoming drop to $0.1818 soon.
XRP is trading at $0.1891 at press time.