Key Support level: $0.70, $0.58
Key Resistance levels: $0.86
XRP’s price managed to hold well above the key support at $0.70, and now the lower timeframes such as 4-hours are turning bullish, which can lead to a short relief rally. It is unlikely for the price to reach the key resistance at $0.86, but this is a good sign for bulls.
Technical indicators
Trading volume: Volume remains low so best to be cautious on any relief rally as it can trap buyers.
RSI: The daily RSI remains flat, but it is now trying to curve back up. If the price continues up, the RSI could make a higher high, but that seems ambitious at this time.
MACD: The daily MACD is bearish. The histogram is showing higher lows, which is encouraging, but further confirmation is needed.
Bias
The current bias is neutral and will stay so as long as the key support holds.
Short term prediction for XRP price
Although the bulls have done a great job so far in preventing XRP from falling below the critical support at $0.70, there is a good chance that the bears will try to break it again. It seems likely that the next few days will feature high volatility.
