XRP managed to return to a $3 valuation. How high can it go this week?
Ripple (XRP) Price Predictions: Analysis
Key Support levels: $2.9
Key Resistance levels: $3.2, $3.6, $4
1. XRP Breakout
In the past few days, XRP broke away from the descending triangle (in blue on the chart) and rallied higher towards $3. If buyers can sustain this and confirm $3 as support, then the way opens up for the asset to go to $3.2 next or even $3.6.
2. Bullish Momentum Is Returning
With bulls on the offensive, XRP has a real chance to enter a sustained rally after this breakout. The key to achieving that is for the buy volume to increase in the days to come. So far, the breakout was on low volume, which signals caution.
3. MACD Higher Highs
The uptrend can also be seen on the daily MACD, which has made a clear bullish cross this week and now appears ready for new highs. Hopefully, the buy volume increases so that the uptrend can be sustained in the weeks to come.
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