12 March 2023 15:35, UTC
Reading time: ~2 m
The last day of the week is bullish for the cryptocurrency market.
The rate of XRP has almost not changed since yesterday. Over the last week, the price has declined by 2.37%.
On the hourly chart, the price of XRP might have found the local support level at $0.3603. However, the altcoin has not accumulated enough energy yet to rise to the resistance.
In this case, the more likely scenario is sideways trading in the area of $0.3640 until the end of the day.
On the daily time frame, the situation is still looking bearish as the price is slowly approaching the support at $0.3546. If buyers lose the $0.36 mark, the breakout may be a prerequisite for a sharp drop to the $0.34-$0.35 zone.
From the midterm point of view, the rate of XRP has bounced off the $0.40 mark, confirming bears’ pressure. In this regard, the more likely scenario is an ongoing decline to the $0.34 zone until the end of the month.
XRP is trading at $0.3613 at press time.
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