XRP holds above $1.40. Can it reclaim $1.60 next before another rally?
XRP went through some intense volatility during the weekend, spiking above $$1.65 before it was rejected and pushed south to $1.40. What levels should investors watch before the next move?
Ripple (XRP) Price Predictions: Analysis
Key support levels: $1.40, $1.00
Key resistance levels: $1.60
1. XRP Finds Support at $1.4
Buyers returned to XRP at the $1.40 support and managed to hold the price above this key level for more than a week. This opens up the possibility for this cryptocurrency to rally all the way to $1.60 before sellers return.
2. Momentum Remains Bearish
Even if XRP managed to find support, the overall momentum remains bearish. To turn this downtrend around, buyers will have to break above the $1.60 resistance as well. If they are successful there, then the $2.00 target becomes realistic.
3. Daily RSI Leaves Oversold Area
The daily RSI bounced out of the oversold area, but has still not managed to move above $0.50. As long as it remains under this level, sellers have the advantage. Nevertheless, XRP has a real chance here to continue higher if buyers don’t vanish this week.
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