- Key Support: $ 0.89
- Key resistance: $ 1
Buyers were excited to see the XRP rally and tried to push the price above $ 1 on short notice last Thursday. However, a day later, the cryptocurrency fell 10% and is now back just above the USD 0.89 support.
While the first attempt failed, it shows that interest in XRP is returning and another attempt could soon be on the way.
Technical indicators
Trading Volume: Volume spiked last week but has steadily declined since then, putting XRP in a state of low volatility.
RSI: The daily RSI has hit a higher high, a sign of an uptrend. Hence, the bulls could make another attempt to break above USD 1.
MACD: The daily MACD has formed a bullish cross and is rising. However, its histogram is producing lower volumes, a signal that the uptrend has lost momentum. Hence, XRP could consolidate for a few days before another breakout attempt is made.
Perspectives
The current trend of XRP is bullish. As long as the price stays above the USD 0.89 support, XRP has a good chance of continuing to rise.
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Market
XRP rejected by $ 1, what’s next?
- Key Support: $ 0.89
- Key resistance: $ 1
Buyers were excited to see the XRP rally and tried to push the price above $ 1 on short notice last Thursday. However, a day later, the cryptocurrency fell 10% and is now back just above the USD 0.89 support.
While the first attempt failed, it shows that interest in XRP is returning and another attempt could soon be on the way.
Technical indicators
Trading Volume: Volume spiked last week but has steadily declined since then, putting XRP in a state of low volatility.
RSI: The daily RSI has hit a higher high, a sign of an uptrend. Hence, the bulls could make another attempt to break above USD 1.
MACD: The daily MACD has formed a bullish cross and is rising. However, its histogram is producing lower volumes, a signal that the uptrend has lost momentum. Hence, XRP could consolidate for a few days before another breakout attempt is made.
Perspectives
The current trend of XRP is bullish. As long as the price stays above the USD 0.89 support, XRP has a good chance of continuing to rise.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
