Ripple Price Analysis: XRP Drops 4% Daily but a Bullish Crossover in the Making

Key Support levels: $0.75, $0.70

Key resistance level: $0.89, $1

Despite low volatility over the past week, XRP achieved one thing. It has stopped the downtrend, and found support at the $0.75 level. However, the key resistance at $0.89 is still holding. But this could be overturned by a possible bullish crossover.

Chart by TradingView

Technical Indicators

Trade Volume: The volume continues to fall, which could lead to a significant breakout from the current range.

RSI: Although the daily RSI is moving higher, the flat trend means that it remains just above the oversold zone.

MACD: The price has been consolidating in a narrow range, which has allowed the MACD histogram move closer to the positive side. Moving averages for the daily timeframe have begun to make a bullish crossover. This could give buyers the momentum to break through the key resistance and attempt an eventual rally.

Chart by TradingView

Bias

The current XRP bias remains neutral. Breaking above $0.89, the key resistance, will turn the bias bullish.

Short-Term Prediction of XRP Price

The MACD suggests a bullish trend in the near future. If ETH and BTC don’t drop, XRP could attempt a breakout from its current range. This can be followed up by a strong rally. If the XRP closes above the key resistance in the daily timeframe, this can be confirmed.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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