XRP Price Outlook: June 6 – Sideways Trade Expected

The XRP price remains stagnant as neither bulls nor bears are in control today, according to CoinStats. 24-hour data shows a drop of almost 1% for XRP/USD. The hourly chart indicates an unsuccessful breakout from the $2.1840 resistance level. If the daily close fails to stay near this mark, a correction towards the $2.15 range may occur. Longer time frames display a bounce off the $2.0777 support level, but no sustained momentum has emerged for upward movement. The most likely scenario is sideways trading within the range of $2.15-$2.25. A similar pattern can be observed on the weekly chart. A strong close above the $2.0777 support could spark a rally towards the $2.40 mark, if it occurs.