The short answer to that question is - well, it depends what happens from now and the next few days are very important. It is crucial to see how XRP reacts now when it is under pressure and if $0.26 - $0.28 zone will serve as a support.
Last Thursday, February 6 the popular altcoin reached $0.282 after trading in the $0.267 - $0.287 range throughout most of the day. Then on Friday, it put an end to the green wave and made a correction to $0.278 after suffering rejection at $0.28.
The weekend of February 8-9 started with a red session on Saturday, during which the XRP/USD pair made a step back to $0.276. Bears, though, were able to push the price down to $0.263 at some point during the day, which suggested buyers might be losing momentum. On Sunday, the XRP regained its position above $0.28 and closed at $0.282 with a 12.8 percent increase on a weekly basis.
Trading volumes skyrocketed from $1.7 billion on Sunday, February 2 to $2.8 billion on Monday. This was followed by a drop to sub-$2 billion levels on Tuesday and again an increase, this time to $3.38 billion on Wednesday, February 5. The 24-hour volumes were hovering around $2.8 billion on Thursday and Friday and then dropped to $2.3 billion during the weekend.
Last Thursday, February 6 the popular altcoin reached $0.282 after trading in the $0.267 - $0.287 range throughout most of the day. Then on Friday, it put an end to the green wave and made a correction to $0.278 after suffering rejection at $0.28.
The weekend of February 8-9 started with a red session on Saturday, during which the XRP/USD pair made a step back to $0.276. Bears, though, were able to push the price down to $0.263 at some point during the day, which suggested buyers might be losing momentum. On Sunday, the XRP regained its position above $0.28 and closed at $0.282 with a 12.8 percent increase on a weekly basis.
Trading volumes skyrocketed from $1.7 billion on Sunday, February 2 to $2.8 billion on Monday. This was followed by a drop to sub-$2 billion levels on Tuesday and again an increase, this time to $3.38 billion on Wednesday, February 5. The 24-hour volumes were hovering around $2.8 billion on Thursday and Friday and then dropped to $2.3 billion during the weekend.
Note
XRP/USD pair stopped at the lower end of the uptrend corridor (at $0.265) on February 10 and today regained position above $0.28.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.