Ripple (XRP) Price Outlook: Bulls Attempt to Control $0.6, Here’s the Next Target
The XRP rally resumed this week, and buyers continue to dominate.
Key Support levels: $0.54
Key Resistance levels: $0.68
1. Buyers Return
XRP bounced from the 54 cents support after buyers rushed in. The price increased by over 10% since that level was tested. As long as they defend it, the bias remains bullish.
2. Volume Decreases
Since XRP made a local high at almost 64 cents, the volume has been falling. While this is not a concern now, it can become one if this continues. Sellers can take advantage of any weakness and push against the key support again. A second test of this key level could be interpreted as bearish.
3. Weekly MACD Remains Strong
Despite the volatility on lower timeframes, the weekly MACD provides a clear, bullish picture with higher highs on the histogram. As long as this continues, XRP can aim for new highs and even challenge the resistance at 68 cents.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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