Understanding the Basics of Cryptocurrency for Beginners

Asset Analysis on the Hourly Chart

At the moment, the asset is showing an upward trend; however, there are numerous liquidity accumulation marks observed below, which is clearly reflected in the chart.

Scenarios of Events Development

Growth is expected if the price consolidates above $0.4597 ( maximum on the 4-hour time frame ). After a slight consolidation, a move to $0.4800 is likely, followed by further growth of a few percent in line with the trend.

The possibility of a decline is being considered if it consolidates below the absorbed zone of $0.4081. Although this level is not deemed critically important due to the imbalance below, it can be highlighted as a minimum support zone.

Potential price levels

Upon fixing below, a sequential move is expected initially to the imbalance zone at $0.3929, after which the price may reach liquidity accumulation levels at $0.3736, $0.3520, $0.3404, and ultimately $0.3339. Analysis of XRP price dynamics on the hourly chart

Current Market Situation

The main cryptocurrencies are currently trading near local lows. It is important to monitor the formation of new support levels. There is insufficient activity from buyers, which may lead to a significant decrease in prices.