Chart by TradingView
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 today’s 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.
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.
The current XRP bias is neutral. The cryptocurrency has so far failed to move higher and lacks volume.
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.
