XRP Regains Key Support, Where’s Next Target?
XRP has recovered strongly from last Thursday’s decline and is now back above a key support level.
- Major support levels: $0.70, $0.58
- Key Resistance: $0.86
After a strong rally, XRP is back above the critical support at $0.70.
This is a good sign as it indicates strong demand at lower levels. Now XRP appears to be heading higher again. If the buying pressure increases, it can touch the $0.86 resistance.
Trading Volume: Volume decreases rapidly. This could be a sign that buyers are exhausted. For now, critical support has held up well.
RSI: The daily RSI has made a higher low and is moving up which is a bullish signal.
MACD: The daily MACD is about to form a bullish cross. If the current momentum continues, XRP could soon hit a key resistance level.
The current bias is neutral. The price is currently consolidating between the key levels.
Short term prediction
After two days of rallying above the critical support at $0.70, the bulls appear to be making another attempt at the $0.86 resistance. There are some early bullish signals, but XRP needs more momentum to confirm this and move into an uptrend.
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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