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Key Support levels: $0.70
Key Resistance level: $0.85
The momentum was simply not there over the weekend to push the price higher and this led to todayâs decline towards the key support at $0.70. The resistance at $0.85 is still far away and XRP appears unable to muster sufficient strength to go higher at this time.
Technical Indicators
Trading Volume: The low volume has sucked out the momentum from XRP which appears to suffer a pullback at the time of this post.
RSI: The daily RSI has failed to make a higher high to date. XRP simply needs more volume and momentum to go higher.
MACD: The daily MACD completed a bullish crossover last Friday. This is good news for buyers, but the histogram shows a lack of momentum since the crossover.
Bias
The current XRP bias is neutral. The cryptocurrency has so far failed to move higher and lacks volume.
Short-Term Prediction for XRP Price
If the buyers manage to take over, then XRP can finally resume its uptrend towards the key resistance at $0.85. The current price action is stuck in a range and XRP showed very little commitment to break away.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.