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The market is yet to decide which path to take as neither the bulls nor the bears have seized the initiative.
XRP/USD
The price of XRP is almost unchanged as it is only up 0.22%.
On the local chart, XRP has started a decline after breaking the $0.3287 level. Currently, there are no signs of a bullish reversal as the bulls have not accumulated enough strength.
If there is a false breakout of the $0.3199 support level, the downside is likely to stop.
On the larger time frame, XRP is moving back towards the $0.3199 support level against higher volumes. If there is a close near this mark, the ongoing decline could soon continue towards the $0.3150 area.
On the weekly chart, XRP is located closer to support than resistance, which means that it is likely to see more downsides than local developments. An increase can only happen if the bulls can pull the price back above the $0.34 mark and correct it.
XRP is trading at $0.3247 at press time.