XRP Prediction for August 11

The last day of the week started bullish for most coins, however, bears seized the initiative later, according to CoinStats.

XRP/USD

The rate of XRP has gone down by 3.71% since yesterday. Over the last week, the price has risen by 5.62%.

On the hourly chart, the price of XRP is setting new local lows. If the bar closes below the support of $0.5760, the correction is likely to continue to the $0.56 range soon.

Sellers are also powerful on the daily time frame. One should pay attention to the interim level of $0.5656. If a breakout happens, the accumulated energy might be enough for a continued downward move to the $0.55 area.

On the weekly time frame, the rate of XRP is far from the support and resistance levels.

As neither side is dominating, ongoing sideways trading in the wide range of $0.56-$0.66 is the more likely scenario until the end of the month.

XRP is trading at $0.5756 at press time.

Source