XRP is preparing to run higher.
Key Support levels: $2
Key Resistance levels: $2.3, $2.6, $3
1. Buyers Are Eager
A look at the chart shows that the resistance at $2.3 has been tested several times in the past few weeks. While sellers managed to hold back a breakout, this appears imminent if buyers continue the pressure. Once $2.3 turns into a support, then XRP has a good shot to revisit $2.6.
2. Momentum Turning Bullish
Another sign that bulls are having the upper hand right now can be seen on the momentum indicators. The daily MACD and RSI are curving up with clear higher lows. If XRP moves beyond $2.3, then higher highs are likely. While this is promising, buyers need to break $2.3 to confirm this bias.
3. MACD Bullish Cross
The daily MACD did a bullish cross today. This is a clear indication that this cryptocurrency wants to go higher. If momentum starts to pick up in the days to come, this can turn into a sustained rally that can challenge the $2.6 resistance or even $3 if sellers don’t return in force to stop it.
