Author:
XRP touched $2.2 before sellers returned.
Key Support levels: $2
Key Resistance levels: $2.3, $2.6, $3
1. Uptrend Stalls
As expected, the buyers returned at the $2 support and took XRP into an uptrend. However, this came to a stop as soon as the price approached the $2.2 level. Bulls appear to struggle here which allowed sellers to take back control of the price action and take this cryptocurrency into a pullback.
2. Momentum is Bullish
Even if XPR’s price has not made a higher high yet, the momentum indicators on the daily timeframe have flipped bullish in the past few days. This is encouraging and could hint at a break above the $2.3 resistance, despite any pullback at this time.
3. Higher Highs on MACD
While the price needs more time to make higher highs, the daily MACD histogram has already turned bullish and is making higher highs. This is a bullish signal and the price could mirror the MACD in the days to come. As long as selling does not intensify here, XRP has a good chance to test the $2.3 level or even $2.6.
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