Great news for XRP investors as the price begins to rise.
Key Support levels: $0.54
Key Resistance levels: $0.60, $0.68
1. Price Reclaims Critical Level
After some indecision, buyers successfully drove XRP back above the 54 cents mark, which is now serving as a vital support level once more. As long as the price remains above this crucial threshold, XRP can aim to move upwards and confront the resistance at 60 cents next.
2. Low Buy Volume Persists
Although buyers have managed to secure a win this week, the volume indicates a lack of strong commitment. Since the price dip in late September, buying volume has remained weak. For XRP to effectively challenge the 60 cents level in the future, bulls need to increase their participation.
3. MACD Shows Bullish Cross on Daily
The daily MACD presents encouraging news following a bullish cross. This indicates that momentum is shifting in favor of buyers, which could be the onset of a prolonged rally. Although it’s still early, this is encouraging. A move towards the 60 cents resistance would likely empower buyers to regain control of the price.
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