XRP up 9%, this is the next target to watch

XRP has had a green week after the price surged more than 25%. Since yesterday, the coin is up nearly 9%.

Key support level: $0.7.

Key resistance levels: $0.96, $1.

XRP continued to move higher into the weekend despite lower volumes and negative crypto sentiment. However, the price has yet to make a higher high and the critical resistance at $0.96 remains to be watched.

Furthermore, the price has to retest and confirm the support at $0.7 as support. This gap may never close, but for a healthy uptrend, XRP should retest and find support at $0.7.

Source: TradingView

Technical indicators

Volume: After decent volume during last week’s rally, prices have settled down this weekend (typical) but volume has remained stable.

RSI: The daily RSI is rising again after a brief correction from the overbought territory. We should keep an eye on Day 2 price action as this will determine where XRP goes next.

MACD: The daily MACD is still bullish but the histogram is showing lower highs. This could show the first signs of fading bullish momentum. However, it is too early to speak of an adjustment.

Source: TradingView

The current XRP trend is bullish.

Short term XRP price prediction

If this momentum holds, XRP is likely to test the critical $0.96 – $1 resistance area in the week ahead. Success there will see XRP consolidate above the coveted $1 mark. However, it is best to exercise caution as the crypto market is looking somewhat indecisive, which could impact XRP’s price action.

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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