Key support levels: $ 0.75, $ 0.70
Key Resistance Level: $ 0.89, $ 1
Despite the low volatility over the past week, XRP has achieved one important thing. He stopped the downtrend and managed to find good support at the $ 0.75 level. Key resistance at $ 0.89 continues to hold, but this could end as a bullish cross is potentially underway.
Technical Indicators
Trading Volume: Volume continues to drop, and this may anticipate a major breakout from the current range.
RSI: Daily RSI is trying to move higher but due to the flat trend it remains stuck just above the oversold zone.
MACD: This consolidation of the price in a tight range has allowed the MACD histogram to move closer and closer to the positive side, and the moving averages on the daily timeframe are about to do a bullish cross. If this materializes, then buyers may have the momentum they need to finally break above the key resistance and attempt a rally.
Bias
The current XRP bias is neutral. A break above the key resistance at $ 0.89 will push the bias higher.
Short-Term Prediction for XRP Price
The MACD hints at a bullish move in the near future. Provided that ETH and BTC do not drop and pull the market down, XRP has a chance at attempting a breakout from the current range, which can be followed by a strong rally. This can be confirmed if the XRP price closes above the key resistance on the daily timeframe.
