XRP Price Analysis for March 8

Bears have continued their pressure as the rates of most of the coins are falling.

XRP/USD

XRP is an exception to the rule, rising by almost 5% over the last 24 hours.

On the hourly chart, the price of XRP has broken the local resistance at $0.3855 against the increased volume. Now, one should pay attention to the bar closure. If it happens above it, the growth may continue to the $0.41 zone tomorrow.

On the daily time frame, the price has also broken the resistance at $0.3855. From another point of view, the rate has made a false breakout of the $0.40 zone, which means that bulls are not ready yet to seize the initiative.

In this case, sideways trading in the range of $0.385-$0.39 is the more likely scenario for the upcoming days.

From the midterm point of view, the price has once again bounced off the support at $0.3619. If the weekly candle closes near the $0.40 mark, the rise may continue to the resistance at $0.4328 until mid-March.

XRP is trading at $0.3919 at press time.

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