Sellers are more powerful than buyers at the end of the week, according to CoinStats.
XRP chart by CoinStatsXRP/USD
The rate of XRP has dropped by 2% since yesterday.
Image by TradingViewOn the hourly chart, the price of XRP is near the local support at $2.0530. If its breakout occurs, the decline may lead to the test of the $2.03-$2.04 range by tomorrow.
Image by TradingViewOn the longer time frame, traders should focus on the nearest level at $2.0450. If the daily candle closes below it, the accumulated energy might be enough for an ongoing downward move to the $2 area.
Such a scenario is relevant until the end of the week.
Image by TradingViewFrom the midterm point of view, the situation is rather more bearish than bullish. As the rate of XRP is far from key levels, one should focus on the nearest zone at $2. If bulls lose it, there is a high chance of seeing a test of the $1.80 range.
XRP is trading at $2.0462 at press time.
Source: https://u.today/xrp-price-analysis-for-january-16-1
