XRP News Today: XRP Rises 1.26% Despite Bearish Hourly Trend

The price of XRP has experienced a slight increase of 1.26% since yesterday, according to CoinStats. Despite this rise, the hourly chart indicates a bearish trend for XRP. If the support level is breached, the price is likely to continue its decline towards the $2.50 zone.

On a larger time frame, XRP's price has rebounded from the resistance level of $2.6549. If the daily bar closes significantly below this level, it is expected that the price will test the $2.40-$2.50 range by the end of the week.

From a mid-term perspective, traders should closely monitor the $2.59 level. If the weekly bar closes near or above this level without a long wick, the accumulated momentum could be sufficient to drive an upward movement towards the $2.80 area. At the time of reporting, XRP is trading at $2.5589.