Buyers have failed to keep the weekend's rise, according to CoinStats.
XRP/USD
The price of XRP has dropped by 0.47% since yesterday.
On the hourly chart, the rate of XRP is closer to the local support level than to the resistance. If the situation does not change, one can expect a level breakout, followed by a move to $0.52.
On the bigger time frame, the price of the altcoin is falling after a failed attempt to fix above the $0.53 mark. If buyers cannot seize the initiative until the end of the day, the correction may lead to the test of the $0.51 area soon.
From the mid-term point of view, it is too early to make any far price projections as a few days left until the candle closure.
In this regard, an ongoing sideways trading in the wide range of $0.50-$0.54 is the more likely scenario.
XRP is trading at $0.5235 at press time.
