What does XRP need to return to the Top 3?
May 27 began with a relatively positive price climate, as some altcoins returned to the green zone. Today’s main winner is XRP. The currency rate increased by 0.74% in the last 24 hours.
As most currencies are trading on a sideways trend, the total cryptocurrency capped brand remained largely unchanged. The current index is $ 246 billion.
The relevant data for XRP are as follows.
- Name: XRP
- Ticker: XRP
- Market capitalization: US $ 8 624 797 097
- Price: $ 0.195517
- Volume (24h): $ 1,546,826,083
- Change (24h): 0.88%
This data is relevant at the time of printing.
XRP / USD: how quickly can XRP return to the top 3?
While Bitcoin (BTC) and most altcoins are being traded sideways, XRP is not missing a chance, up 0.74% since yesterday. However, the currency lost more than 4% last week.
On the hourly chart, the XRP looks quite positive. The currency is slowly approaching the local resistance level at $ 0.1960. In addition, their trading volume has remained at the same level, which means that sellers will not dump the rate in their current zone. If a lateral trend in most currencies continues, the XRP could reach $ 0.1960 by the end of the day.
On the 4-hour chart, neither bulls nor bears took advantage of the initiative, from a short-term perspective. The trading volume of purchases is higher than the average and the level of liquidity.
In this case, the most likely result is a consolidation in the yellow range between $ 0.1950 and $ 0.1980 by the end of the month.
On the daily chart, bearish sentiments appeared. The trading volume is not decreasing. However, buyers are not willing to buy. In addition, we can see a large triangle pattern with an end point at $ 0.18. If the decline continues, traders can expect to gain that support in the early part of June 2020.