Key assistance levels: $ 0.75
Key Resistance Level: $ 1
XRP had a tough week, with price slowly falling back to the key support level at $ 0.75. While other altcoins like Chainlink make big gains, XRP is still struggling to find its place. Resistance at $ 1 probably won’t be tested anytime soon given this price action.
Technical Indicators
Trading Volume: The volume has decreased as the price went lower, showing weakness in the bearish trend. This is good news, as XRP may attempt a reversal soon.
RSI: Daily RSI hit a new low. It also gives hope that XRP can finally reverse the uptrend and attempt another breakout of key resistance.
MACD: The daily MACD remains bearish, but the histogram shows a lack of conviction from the sellers. For this reason, MACD can quickly do a bullish crossover if buyers return in force.
Bias
The current XRP bias is neutral. Although the price action is somewhat bearish, there is no conviction on either side of causing the price to rise or fall significantly.
Short-Term Prediction for XRP Price
XRP may have reached the end of this correction after the sharp rejection at the $1 resistance level. The lack of volume shows this. For this reason, buyers may soon have a good opportunity soon to bring up the pace.
