Neither buyers nor sellers are dominating at the moment. While Bitcoin (BTC) and Ethereum (ETH) are in the red zone, EOS has risen 2.12% over the past day.
The ongoing sideways trading trend is negatively affecting the capitalization of the cryptocurrency market. Its index has lost $3 Bln since yesterday.
The relevant data for XRP is as follows.
Market Cap: $7,827,784,883
Volume (24h): $1,032,060,191
Change (24h): 0.31%
The data is relevant at press time.
XRP/USD: Steady growth possible in the second half of summer?
Yesterday, XRP was not able to break the upper limit of the side range in the form of a two-hour EMA55. In the afternoon, sellers increased pressure and the pair rolled back to the $0.172 area.
During the Asian session, buyers tried to correct the situation, but the volume of purchases was below the average level and it was not possible to return the pair to the moving average EMA55. Today, it is possible it will continue to decline to the support at $0.17.
On the 4H chart, XRP has started rising after a prolonged consolidation phase. The coin is about to break through the top of the channel, which is backed by the Bollinger Bands indicator. In this case, the support XRP could reach is $0.1810. The only concerning thing is low trading volume.
On the daily time frame, bulls have become stronger. However, they do not have enough strength for a bullish trend revival. Even though the trading volume is falling slightly, buyers have not yet seized the initiative. As such, trading in the yellow range between $0.1750 and $0.18 is the most likely price forecast.
XRP is trading at $0.1768 at press time.