Author:
Despite a market-wide correction, XRP is holding strong.
Key Support levels: $0.43
Key Resistance levels: $0.54
1. Flat Trend Continues
XRP did not make new lows this week and manage to hold steady around 48 cents. While most of the market is in red today, XRP managed to keep its price. This is a show of strength.
2. Key Resistance Next?
The price action gives signs it wants to push XRP higher and challenge the key resistance at 54 cents. This level is a 10% price increase from current levels and seems achievable if sentiment continues to improve around this cryptocurrency.
3. Bullish Cross on Daily
The bullish cross on the daily MACD from last Sunday may explain why XRP is holding better than other altcoins right now. Since then, buyers appeared to have the upper hand, but they are being challenged right now. If they hold steady here, XRP could move higher later.
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Cryptocurrency charts by TradingView.
