Key Support levels: $0.75, $0.70
Key Resistance level: $0.89, $1
XRP price is approaching the support at $0.75 after its attempt to move higher was rejected. While the trend remains flat for XRP, it appears that the price is being condensed in the current structure, which may push it to attempt a major breakout.
Ideally, the price should try to escape from this range so that momentum and volatility can return to XRP. Until then, the resistance at $0.89 will continue to pose a major challenge for bulls.
Trading Volume: The volume has remained flat in the past few days, with XRP cannot bring sufficient momentum to break away from the current price range.
RSI: The daily RSI is making higher lows which is a bullish signal. The RSI has to move above 50 points as staying just above the oversold area is not a sign of strength.
MACD: The daily MACD is very close to completing a bullish crossover. However, the current market conditions may postpone this as both ETH and BTC appear bearish at the time of this post.
Chart by TradingView
The current XRP bias is neutral. A break away from the current range will change this bias.
While there are some hints of bullishness, XRP appears stuck in a flat trend. So far, the support level at $0.75 has held well, and it may be retested again before a major move can take place.
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