The cryptocurrency market is experiencing sideways trading today, according to CoinStats.
XRP Price Decline
XRP has slightly declined, with its rate dropping by 0.39% since yesterday.
Short-Term Outlook
On the hourly chart, XRP has broken below the support level of $0.5219. If buyers fail to regain control, the price could continue to decline towards the $0.5150 zone soon.
Medium-Term Outlook
On a larger time frame, buyers need more time to gather momentum for any significant upward movement. Consequently, consolidation within the $0.5150-$0.5250 range is the most likely scenario over the next few days.
Long-Term Outlook
The weekly chart presents a slightly more optimistic picture. However, it is premature to anticipate a swift reversal, as the price remains distant from major levels. Overall, XRP is expected to trade sideways between $0.51 and $0.54 until the end of the month.
Current Trading Price
At the time of writing, XRP is trading at $0.5206.