Key assistance levels: $ 0.89
Key Resistance Level: $ 1
Buyers were excited to see the XRP rally, and there was a short-lived attempt to move the price above $ 1 last Thursday. However, a day later the cryptocurrency fell 10% and is now back just above the support level at $ 0.89.
This first attempt to move higher failed but shows that interest in XRP is coming back, and another attempt may be successful later on.
Technical indicators
Trade volume: Volume was good during last week’s rally. Since then it has declined significantly, putting XRP in a consolidation with little volatility.
RSI: The daily RSI sits at 52 points at the time of this post. So long as the bulls can keep it above 50 points, the bias remains bullish for XRP and buyers may attempt another break of the key resistance later on.
MACD: Daily MACD is bullish, but histogram hits lower highs after the $ 1 rejection. This is not of concern until the moving averages make a bearish cross. It seems unlikely at the moment, and XRP can recover from this latest price drop.
Bias
The current XRP bias is bullish. As long as the price sits above the support level at $0.89, XRP has a good chance to continue higher.
Short-term prediction of XRP price
XRP is currently consolidating below the resistance level of $ 1. A first pass attempt was unlikely to be successful, as this level also represents a key psychological barrier.
