The crypto market is going down as most of the coins are in the red zone, according to CoinMarketCap.
Top coins by CoinMarketCapXRP/USD
The price of XRP has declined by 4.35% over the last 24 hours.
Image by TradingViewOn the hourly chart, the rate of XRP is going up after a breakout of the local resistance of $1.8975. If buyers can hold the gained initiative, the upward move may lead to a test of the $1.95 area shortly.
Image by TradingViewOn the longer time frame, there are no reversal signals yet as the price of XRP keeps trading near the support of $1.8209.
If a bounce back does not happen soon, traders may expect a further correction to the $1.80 range. Such a scenario is relevant until the end of the week.
Image by TradingViewFrom the midterm point of view, the situation is similar. If a breakout of the nearest support of $1.8209 happens, the accumulated energy might be enough for a an ongoing decline to the $1.30-$1.60 area.
XRP is trading at $1.9164 at press time.
Source: https://u.today/xrp-price-analysis-for-december-16
