XRP Price Analysis for August 12
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The weekend has started with slight buyer dominance, according to CoinMarketCap’s ranking.
Top coins by CoinMarketCap
XRP/USD
The rate of XRP has fallen by 0.36% over the last 24 hours.
Image by TradingView
The rate of XRP is looking bearish on the local chart as the rate is on the way to test the support level at $0.6280 again. If a breakout happens, the decline may continue to the $0.6250 zone shortly.
Image by TradingView
The rate of XRP is looking more bearish than bullish on the daily time frame. At the moment, one should pay attention to the interim mark at $0.62.
If the candle closes below it, the accumulated energy might be enough for a sharp drop to the $0.60 range.
Image by TradingView
From the midterm point of view, traders should focus on the bar’s closure. If it happens far from $0.61, buyers might locally seize the initiative, which can lead to a bounce back to the $0.64 area.
XRP is trading at $0.6288 at press time.
