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Buyers are trying to seize the initiative as the rates of all the top 10 coins are rising.
The price of XRP has risen by almost 2% over the past 24 hours.
On the hourly time frame, the growth of XRP stopped at the recently formed resistance at $0.34569. However, a drop has not happened, which means that buyers are accumulating power for a further move.
If a breakout occurs, the impulse could be enough to reach the $0.35 mark.
On the daily chart, the rate is about to close above the support at $0.4360. If that happens, the upward move may continue to the next resistance zone at $0.2550.
A similar situation is on the daily time frame against Bitcoin (BTC). The price has made a false breakout of the support at 0.00001951. If closure happens near the 0.00002084 mark, bulls could seize the initiative and keep up the rise to 0.00002137.
XRP is trading at $0.3465 at press time.
Published at Mon, 02 Jan 2023 21:00:00 +0100