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Bulls could not seize the initiative on the last day of the week as the rates of most of the coins are going down.
The price of XRP has declined by 5.40% since yesterday. Over the last week, the price has dropped by 28.76%.
On the hourly chart, XRP is trading near the local support level at $0.34894. If a bounce back does not happen, there is a chance to see a breakout followed by a sharp drop to the $0.34 zone.
On the daily chart, the situation is bearish as well, as the price has continued to fall after yesterday’s candle.
If buyers lose the $0.35 mark, the fall may lead to a test of the nearest support level at $0.3119.
XRP is on the way to the support level at $0.2870 on the weekly time frame. At the moment, one needs to pay attention to the closure. If it happens below the vital $0.30 mark, the fall may continue to $0.25 next week.
XRP is trading at $0.3520 at press time.
Read More: XRP Price Analysis for November 13