XRP News Today: XRP Rises 2.29% to $2.1993 Amid Sideways Trading

The market does not appear to be heading for a correction, according to CoinStats. The rate of XRP has risen by 2.29% over the last 24 hours, reaching $2.1993 at press time. On the hourly chart, the price of XRP might have set a local resistance of $2.2296. As most of the daily Average True Range (ATR) has been passed, there are low chances of seeing sharp moves by tomorrow.

On the bigger time frame, focus should be on the daily bar's closure in terms of the $2.2165 level. If the closure happens far from this level, sellers may return to the market, which could lead to a drop to the $2.18 range. From a midterm perspective, neither bulls nor bears are dominating as the rate of XRP is in the middle of a wide channel, between the support of $1.7711 and the resistance of $2.59. This suggests that ongoing sideways trading around current prices is the most likely scenario.