Friday’s sessions saw Ripple’s XRP breaking past the vital resistance level of $0.65, and the price has consolidated beyond the market since then. However, will the remittance coin test and confirm $0.65 as its support to support continued upside moves?
Vital Support levels – $0.65 and $0.58
Vital Resistance levels – $0.70 and $0.79
Ripple has witnessed a lucrative weekend so far, maintaining beyond its newfound support of $0.65. However, momentum seems to pause, suggesting indecision in price movements. XRP’s next challenge is overcoming the crucial resistance near $0.70. Overpowering this level will see Ripple attempting to topple $1 again.
XRP Technical Indicators
- Trading Volume
Ripple saw a decent volume amount on Saturday and Friday. However, the cross-border coin saw low volatility today (Sunday).
- Relative Strength Index
The daily Relative Strength Index noted a higher high, suggesting a potential pullback. With that, XRP might plunge to test the vital support zone around $0.65 before extending its upward move.
- Moving Average Convergence Divergence
The daily Moving Average Convergence Divergence remains bullish. Moreover, the indicator exhibits enough momentum despite Sunday’s low volume. The histogram still makes high highs, supporting the bullish case.
Currently, XRP exhibits a bullish bias. Nevertheless, the resistance at $0.70 highlights that the price will hardly surge more without consolidation or pullback. Ripple enthusiasts may need to watch Monday’s trends to predict XRP’s next move.
Ripple Near-Term Forecast
Weekend upswings in the crypto world had XRP turning bullish. For now, the remittance token requires momentum to keep vital support for extended surges. With that, it can break past $0.70. Nevertheless, overcoming this hurled may be perplexing as sellers might step up around the mark before XRP surges towards $1.
Nevertheless, cryptocurrency analysts remain bullish on the crypto assets, including XRP. FXStreet experts believe the remittance can see a 22% upward move. Broad market bias may be vital for Ripple’s directional trends. XRP enthusiasts should wait for Monday sessions before trading the alt. Bulls have to step up to trigger sustained upside actions.
For now, bears seem to dominate following the weekend bullishness. The crypto market seems to fall at this publication. Maintaining such actions might lead to weak price moves in the upcoming trading sessions.