Good news for XRP holders as the price moves higher.
Key Support levels: $0.54
Key Resistance levels: $0.60, $0.68
1. Price Reclaims Key Level
After some hesitation, buyers managed to push XRP back above the 54 cents level, which is now acting as key support again. As long as the price holds above this key level, XRP has a clear way to move higher and challenge the resistance at 60 cents next.
2. Buy Volume Remains Low
Even if buyers managed to score a victory this week, the volume does not show high conviction. Since the price drop in late September, buy volume has been weak. If XRP hopes to challenge the 60 cents level in the future, bulls have to step up.
3. MACD Bullish Cross on Daily
The daily MACD brings good news after a bullish cross. This signals that momentum is shifting to the buy side and could be just the start of a sustained rally. It is still early, but this is promising. A test of the resistance at 60 cents would likely put buyers back in control of the price.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!
Source link
