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Bears remain more powerful than bulls as the coins’ rates are decreasing.
The rate of XRP has declined by 1.23% over the last 24 hours.
On the hourly chart, XRP might have found the local bottom at the $0.3736 support level. Meanwhile, the peak of the same candle serves as the resistance.
If buyers’ pressure continues until the end of the day, one can expect a breakout, followed by the rise to the $0.39 mark tomorrow.
On the daily time frame, the rate of XRP has once again bounced off the support level of $0.3736. The altcoin has chances for local growth. However, if the bar closes below $0.38, the sharp decrease may lead to the test of the $0.36 zone soon.
Analyzing the situation against Bitcoin (BTC), XRP has made a false breakout of yesterday’s low at 0.00002240. If today’s candle closes far from the support, the local upward move can continue to the 0.000023 mark.
XRP is trading at $0.3835 at press time.