Author:
XRP’s price action turned bullish this week.
Key Support levels: $0.54
Key Resistance levels: $0.68, $0.93
1. Key Resistance Under Pressure
Ever since Bitcoin moved above $74К, the altcoin market has started to rally in double digits. XRP is no different and registered a 14% increase in the past seven days. This pushed the price right under the key resistance at 68 cents which may fall at any moment.
2. Buyers are Back, but Volume Lags
Even if buyers dominate right now, the volume has failed to make a higher high. A clear breakout above the current resistance may bring more attention to XRP, which will aim for 93 cents as the next major target.
3. MACD Turns Bullish
The momentum indicators, such as the weekly MACD, give a clear bullish bias. After some weeks of relatively low volatility, this could be the start of a major rally for XRP. Once the current resistance is broken, buyers will have a clear path towards $1.
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
