XRP’s tight range trading resolved to the downside, but lower levels are expected to attract buyers.
Key point:
XRP’s drop below $3.40 opens the gate for a decline to $3. Would a solid bounce off $3 lead to aggressive buying from bulls?
XRP (XRP) rose to a multi-year high above $3.66 on Friday, indicating aggressive buying by the bulls. That helped XRP’s market capitalization exceed that of the global fast-food giant McDonald’s on Monday. However, the failure to sustain the momentum may have tempted short-term buyers to book profits after the sharp run-up.
