XRP has flipped $0.65 to support, but the path to $1 is still challenging
XRP attempted to break the key $0.65 resistance on Friday, with the price consolidating above this level since then. The question is whether $0.65 can be tested and confirmed as support for XRP to continue moving higher.
- Major support levels: $0.65, $0.58
- Major resistances: $0.70, $0.79
So far, XRP has had a green weekend and held above $0.65, which has now flipped into support.
There appears to be a pause in momentum, indicating some hesitation in the price action. The next challenge for XRP is to break the key resistance at $0.70, which should pave the way for a retry of $1.
Source: TradingView
Technical indicators
Trading Volume: Volume is down on Fridays and Saturdays and volume on Sundays is quite low.
RSI: The daily RSI has made a higher high, so a pullback is likely. This will retest the key $0.65 support before moving higher.
MACD: The daily MACD is still bullish and has enough momentum behind it even considering Sunday’s low volume. The chart continues to make higher highs than the uptrend.
Source: TradingView
The current XRP trend is bullish. However, the $0.7 resistance does not leave much room for price action without a pullback or consolidation.
Better keep a close eye on today’s price action to gauge XRP’s next move.
Short term prediction for XRP
XRP turned bullish over the weekend while holding a key support level. If the momentum holds, a break above $0.7 is likely. However, a break of $0.7 is quite challenging as sellers are likely to battle resistance before letting XRP surge higher towards $1.
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Author
Analysis
XRP has flipped $0.65 to support, but the path to $1 is still challenging
XRP attempted to break the key $0.65 resistance on Friday, with the price consolidating above this level since then. The question is whether $0.65 can be tested and confirmed as support for XRP to continue moving higher.
- Major support levels: $0.65, $0.58
- Major resistances: $0.70, $0.79
So far, XRP has had a green weekend and held above $0.65, which has now flipped into support.
There appears to be a pause in momentum, indicating some hesitation in the price action. The next challenge for XRP is to break the key resistance at $0.70, which should pave the way for a retry of $1.
Source: TradingView
Technical indicators
Trading Volume: Volume is down on Fridays and Saturdays and volume on Sundays is quite low.
RSI: The daily RSI has made a higher high, so a pullback is likely. This will retest the key $0.65 support before moving higher.
MACD: The daily MACD is still bullish and has enough momentum behind it even considering Sunday’s low volume. The chart continues to make higher highs than the uptrend.
Source: TradingView
The current XRP trend is bullish. However, the $0.7 resistance does not leave much room for price action without a pullback or consolidation.
Better keep a close eye on today’s price action to gauge XRP’s next move.
Short term prediction for XRP
XRP turned bullish over the weekend while holding a key support level. If the momentum holds, a break above $0.7 is likely. However, a break of $0.7 is quite challenging as sellers are likely to battle resistance before letting XRP surge higher towards $1.
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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