Key support level: $0.70, $0.58
Key Resistance Levels: $0.86
After a strong bounce, XRP managed to get back above the key support at $0.70. This is a good sign and shows buyers are keen to scoop the cryptocurrency at a discount. Now, XRP seems keen to move higher again. If buy pressure increases, it could reach the resistance at $0.86.
Trading Volume: The volume is quickly falling. This could be a sign that buyers are getting exhausted. For now, the key support has been held well.
RSI: The daily RSI is moving higher with higher lows – this is a bullish signal.
MACD: The daily MACD is bearish but is now quickly approaching a possible crossover to the positive side. If the current momentum maintains, XRP may reach the key resistance soon.
The current bias is neutral. The price has been consolidating between the key levels.
Short-Term Prediction for XRP Price
XRP seems to consolidate above the key support at $0.70 and may be preparing a possible test of the resistance at $0.86. There are some early bullish signals, but XRP needs more momentum to confirm this and turn the bias bullish.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making investment any decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.