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.

 Source: TradingView

Technical indicators

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.

 Source: TradingView

Perspectives

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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