XRP managed to reclaim a price above $2. However, at this point, it’s really important to analyze whether or not the price can retain itself above this otherwise pivotal level or if we will see a repetition of the not-so-distant future, when XRP lost it almost immediately after reclaiming it.
Ripple (XRP) Price Predictions: Analysis
Key support levels: $2
Key resistance levels: $2.4
XRP Reclaims $2 as Support
Buyers returned since late December, which allowed XRP’s price to reclaim the support at $2. As long as this key level holds, the chart leans bullish with the current target found at $2.4. This level also acts as a key resistance.
Volume Remains Low
While the price action is giving clear hints it wants to go higher, the overall volume remains depressed with lower highs. Until the buy volume increases, a clear breakout may need more time. That can start as soon as the resistance at $2.4 is broken.
Weekly RSI Bullish Cross
Another clear indication that the chart is turning bullish can be seen on the weekly RSI, which crossed above its moving average. This is encouraging, but the RSI has to move above 50 points to confirm this shift in the price action.
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