Author:
XRP bounces as war fears subside.
Key Support levels: $2
Key Resistance levels: $2.3, $2.6, $3
1. Buyers Return at Key Support
In the past 24h, XRP’s price bounced on the $2 support and touched $2.2. Buyers returned as soon as market fears about the conflict in the Middle East eased. With optimism returning, the price was quick to react and may soon test the key resistance at $2.3.
2. Momentum Shifts Bullish on Lower Timeframes
The 12h MACD did a bullish cross today as buying pressure increased. This is a significant change in the price action which signals that sellers are exhausted. With momentum shifting bullish, XRP has a good shot to reclaim the $2.3 level. If it can turn that into a support, then $2.6 becomes the next target for bulls.
3. RSI Strong Rebound
After visiting the oversold area, the 4h RSI made a higher high today which signals bulls are taking over. It’s likely that the resistance at $2.3 will reject a first attempt at a breakout, but if buyers continue to sustain this volume, they have a good chance to eventually break it and move XRP higher.
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