Ripple (XRP) Price Predictions: Analysis
Key Support Levels: $1
Key resistance levels: $1.4
XRP’s downward trend continues
XRP made a brief attempt to hold the support at $1.4, but sellers came back and pushed the price down, making this level a key resistance. Hopefully buyers will show up soon to reverse this trend before it’s too late.
Salespeople dominate
Since the beginning of the year, XRP has closed 6 out of 7 weekly candles in the red. That is extremely bearish and leaves no room for a relief rally. Given how aggressive this sell-off is, a future bounce will likely be just as big and sharp.
The daily MACD is bullish
Even if the price action remains bearish, the MACD momentum indicator on the daily time frame is bullish with a positive histogram. As long as this holds, XRP could form a complex reversal pattern that could see it try to move higher soon.
Keep a close eye on the level at $1.4. If the bulls are reclaimed, they can return.
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