After a prolonged correction, XRP appears ready for its next leg up.
Key Support levels: $2, $1.6
Key Resistance levels: $2.8
1. Rally About to Resume?
Since early December 2024, XRP entered into a steady correction after the price did a 5x in November. However, at the time of this post, this cryptocurrency appears keen to resume its uptrend.
The price is up by over 10% in the past 24h and could aim to challenge the key resistance at $2.8 next if this momentum is maintained. XRP has good support at $2 if sellers return.
2. Momentum Shifting Bullish
Buyers are returning and the momentum indicators are starting to give early signals that the trend is changing back to bullish. The daily MACD did not make a bullish cross yet, but it is quickly approaching one. Volume also remains low at this time, but that can change at any moment.
3. Daily RSI Bullish Cross
The first signal that momentum is turning bullish can be seen on the daily RSI which made a bullish cross. If this is followed by a MACD bullish cross, buyers could intensify their presence on the orderbook as XRP moves higher.
