The market has returned to a corection phase, according to CoinStats.
XRP/USD
The rate of XRP has declined by 6.8% over the last 24 hours.
On the hourly chart, the price of XRP is near the local support of $1.9841. If a bounce back does not happen by the end of the day, there is a chance to see a test of the $1.95 mark soon.
On the daily time frame, bears keep controlling the situation on the market. The volume is rising, which means the price of XRP may have accumulated enough energy for a sharp move.
In this case, if the candle closes below $1.9510, the fall may continue to the $1.80 zone.
From the midterm point of view, there are no reversal signals yet. If the breakout of the $1.90 level happens, traders may expect a more profound decline to the $1.60 area.
XRP is trading at $2.01 at press time.
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