Bears have seized control over the market, with the majority of coins being in the red zone. Cardano (ADA) is the only exception after spiking 1.42 percent.
Top coins by CoinMarketCap
XRP/USD
Yesterday, the XRP/USD pair tried to fix above the two-hour EMA55, but the bears pushed the price below the moving average at the end of the day.
XRP/USD chart by TradingView
Tonight, the decline continued to the level of $0.72. In the morning, the correction slowed down, but the pair might still start trading below the $0.70 support level.
XRP/USD chart by TradingView
On the higher time frame, XRP bounced off the support at $0.70, which means that buyers are not giving up and are ready to save this level.
Respectively, there is a high probability of seeing XRP testing the liquidity zone around $0.74 to gain more power for another move.
XRP/USD chart by TradingView
According to the daily chart analysis, XRP may break the support at $0.70 as buyers could not seize the opportunity after the false breakout. If that occurs, the next mark where bulls might come back to the game is $0.67 zone.
XRP is trading at $0.71096 at press time.
Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.
Recommended Content
Editors’ Picks
Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms
Bitcoin price teased its all-time high of $73,777 last week but declined to trade below $69,000 on Monday. Analysts suggest that market volatility is expected to rise as the US presidential election approaches.
Litecoin poised for double-digit decline after breaking ascending trendline
Litecoin breaks and closes below an ascending trendline, signaling a change in market structure. On-chain metrics paint a bearish picture, as LTC’s dormant wallets are active, and the NPL indicator shows a negative spike.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all faced resistance at crucial levels ahead of the US Elections, leading to a price decline. As of Monday, they neared key support levels, and a firm close below these marks could signal further declines.
21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC
21Shares filed an S-1 registration with the Securities and Exchange Commission (SEC) on Friday for an XRP exchange-traded fund (ETF). While the chance of approval is slim with the current SEC administration, the landscape could change after the upcoming elections.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.