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XRP is testing the resistance at $2.3. Will it break?
Key Support levels: $2
Key Resistance levels: $2.3, $2.6, $3
1. Key Resistance Under Pressure
Yesterday, buyers pushed XRP to the key resistance at $2.3, but sellers returned to stop a breakout. At the time of this post, the price is in a pullback. Nevertheless, this is a positive sign that shows buyers are returning. If this bullish momentum intensifies, then $2.3 could fall and be followed by a test of $2.6 next.
2. Optimism Returns
With the price keen on making higher highs, optimism is returning to this cryptocurrency. This can be seen on the volume profile where buyers have dominated in the last few days. A break above $2.3 will likely see the volume spike and allow further price expansion into new highs.
3. MACD Turning Bullish
After the daily MACD turned positive last week, the 2-day MACD has also turned bullish today. This shows that the buy momentum is slowly creeping into higher timeframes which will build confidence in the price action and attract more buyers. With a positive feedback loop in action, XRP has a good shot at $2.6 or even higher in July.
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