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XRP Rising Above $0.65, But Mass Resistance Awaits


XRP managed to break above the key $0.65 resistance on Friday as the price has since consolidated above this level. The question is whether $0.65 can be tested and confirmed as support so that XRP can continue higher. Key Support Levels: $0.65, $0.58 Key Resistance Level: $0.70, $0.79 Ripple’s XRP had a green weekend so far and managed to hold above $0.65, which has now turned into support. There appears to be a break in momentum, indicating some indecision in the price action. The next challenge for XRP is to break the main resistance at $0.70, which would open the way for another $1 attempt. Chart by TradingView Technical Indicators Trading Volume: Decent amount of volume on Friday and Saturday. However, today’s (Sunday) volume is quite low. RSI: The daily RSI has made a higher high, so a possible pullback is likely. This is a retest of the key support at $0.65 before moving forward. MACD: The daily MACD remains bullish and has ample momentum even given today’s low volume. The histogram continues to make higher highs, which is bullish. Chart by TradingView Bias The current XRP bias is bullish. However, the $0.70 resistance doesn’t leave much room for the price to move higher without a pullback or consolidation. Keep a close eye on Monday’s price action to assess the next move for XRP. Short-term forecast for XRP price XRP has turned bullish this weekend as long as it maintains key support. If momentum continues, a break above $0.70 becomes likely. The latter can be challenging, however, as sellers are likely to battle resistance before allowing XRP to climb higher to $1. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 Free and 10% Off Fees on Binance Futures First Month (Terms and Conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% off trading fees. Disclaimer: Information on CryptoPotato is that of quoted writers. It does not represent CryptoPotato’s views on buying, selling or holding any investments. You are advised to do your own research before making any investment decisions. Use information provided at your own risk. See Disclaimer for more information. Cryptocurrency Charts by TradingView.
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