According to CoinStats, the market is still under selling pressure.
XRP/USD
The price of XRP has fallen by 0.58% over the past 24 hours.
On the hourly chart, the XRP rate is in the middle of the local channel, between the support level of $0.5624 and the resistance level of $0.5742.
Since neither buyers nor sellers are dominant, the most likely scenario for the rest of the day is continued sideways trading.
On a longer time frame, we should pay attention to the nearest support level of $0.5627. If the price returns to it, this could become a prerequisite for a breakout, followed by a reset to the range of $0.55-$0.56.
In terms of the medium term, the situation has not changed much. Traders should currently focus on the immediate $0.60 zone. If this is broken, the rally could soon lead to a test of the $0.65 area.
At the time of publication, XRP is trading at $0.5709.
