Saturday , November 2 2024
Home / Crypto news / Ripple Price Analysis: XRP Breaks Above Critical Support, What’s the Next Target?

Ripple Price Analysis: XRP Breaks Above Critical Support, What’s the Next Target?

Summary:
Key Support level: %excerpt%.70, %excerpt%.58 Key Resistance levels: %excerpt%.86 After a strong bounce, XRP managed to get back above the key support at %excerpt%.70. This is a good sign and shows buyers are keen to scoop the cryptocurrency at a discount. Now, XRP seems keen to move higher again. If buy pressure increases, it could reach the resistance at %excerpt%.86. Chart by TradingViewTechnical Indicators Trading Volume: The volume is quickly falling. This could be a sign that buyers are getting exhausted. For now, the key support has held well. RSI: The daily RSI is moving higher with higher lows – this is a bullish signal. MACD: The daily MACD is bearish but is now quickly approaching a possible crossover to the positive side. If the current momentum maintains, XRP may reach the key resistance soon.

Topics:
Duo Nine considers the following as important: , , ,

This could be interesting, too:

CryptoVizArt writes Ripple Price Analysis: How Low Can XRP Go if it Loses the %related_posts%.5 Support?

Dimitar Dzhondzhorov writes Ripple’s Larsen Explains Why He Donated M Worth of XRP to Harris’ Presidential Campaign

Dimitar Dzhondzhorov writes The Ripple v. SEC Case Resembles Moby Dick: The Company’s CLO Explains Why

Dimitar Dzhondzhorov writes Can the XRP Price Hit When Ripple’s Stablecoin Goes Live? (ChatGPT Analyzes)

Key Support level: $0.70, $0.58

Key Resistance levels: $0.86

After a strong bounce, XRP managed to get back above the key support at $0.70. This is a good sign and shows buyers are keen to scoop the cryptocurrency at a discount. Now, XRP seems keen to move higher again. If buy pressure increases, it could reach the resistance at $0.86.

XRPUSDT_2022-03-01_14-13-14
Chart by TradingView

Technical Indicators

Trading Volume: The volume is quickly falling. This could be a sign that buyers are getting exhausted. For now, the key support has held well.

RSI: The daily RSI is moving higher with higher lows – this is a bullish signal.

MACD: The daily MACD is bearish but is now quickly approaching a possible crossover to the positive side. If the current momentum maintains, XRP may reach the key resistance soon.

XRPUSDT_2022-03-01_14-13-00
Chart by TradingView

Bias

The current bias is neutral. The price has been consolidating between the key levels.

Short-Term Prediction for XRP Price

XRP seems to consolidate above the key support at $0.70 and may be preparing a possible test of the resistance at $0.86. There are some early bullish signals, but XRP needs more momentum to confirm this and turn the bias bullish.

About Duo Nine

Leave a Reply

Your email address will not be published. Required fields are marked *