Ripple Price Analysis: XRP Bounces off $0.70 but is Recovery Inbound?

Key Support level: $0.70

Key Resistance levels: $0.75, $0.96

This latest drop in XRP turned the indicators bearish. However, the key support at $0.70 has held well, and now the price appears to recover. It’s important to see how far it can go before facing resistance. Key levels to watch include $0.75 and $0.96.

Chart by TradingView

Technical Indicators

Trading Volume: The volume during the last drop was high, but now buyers have come back in force, which pushed the price higher.

RSI: The daily RSI fell under 50 points and made a lower low. Ideally, the RSI should move above 50 points and try to make a higher low.

MACD: The daily MACD completed a bearish cross three days ago, and momentum favors sellers right now. The price may get rejected at $0.75 because of that.

Chart by TradingView

Bias

The current XRP bias is neutral. The key support held the price from falling lower.

Short-Term Prediction for XRP Price

Expect XRP to test the key resistance at $0.75. If that level is not broken then the sell-side will take over the price action once more. XRP  should strive to make a higher high, otherwise, the key support may be put under pressure again.

Read More?

Post is imported from RSS feed, by one of our guest editors. G6 does not edit or moderate the content. G6 is not responsible for your actions. No rights owned by G6. To remove the post, please email us at [email protected]

No Comments

Sorry, the comment form is closed at this time.