Key Support levels: $0.70
Key Resistance level: $0.85
The momentum was simply not there over the weekend to push the price higher and this led to today’s decline towards the key support at $0.70. The resistance at $0.85 is still far away and XRP appears unable to muster sufficient strength to go higher at this time.
Trading Volume: The low volume has sucked out the momentum from XRP which appears to suffer a pullback at the time of this post.
RSI: The daily RSI has failed to make a higher high to date. XRP simply needs more volume and momentum to go higher.
MACD: The daily MACD completed a bullish crossover last Friday. This is good news for buyers, but the histogram shows a lack of momentum since the crossover.
The current XRP bias is neutral. The cryptocurrency has so far failed to move higher and lacks volume.
Short-Term Prediction for XRP Price
If the buyers manage to take over, then XRP can finally resume its uptrend towards the key resistance at $0.85. The current price action is stuck in a range and XRP showed very little commitment to break away.
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 get 25% off trading fees.
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 any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.