Can one expect XRP to bounce back soon? pYoyo ANT159694954 nuonrg WillyWonkaXRP RippleXrpie
Despite today's drop, XRP is looking quite positive on the local time frame as the rate is trying to fix above the $0.38 mark. If bulls manage to do that, there is a high chance to see a breakout of the resistance followed by an impulse to the $0.3850 area.
On the daily chart, XRP might have entered an accumulation phase after the sharp drop. In this case, the more likely scenario is sideways trading in the narrow range of $0.38-$0.3850 so the altcoin could get more energy for a further move. From the midterm point of view, the price is below the nearest support level at $0.3860, which means that there is a higher chance to see a further decline than a bounce back.
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