Positive news for XRP holders as the price moves higher.
Key Support Level: $0.54
Key Resistance Levels: $0.60, $0.68
1. Critical Level for Further Price Recovery
After some hesitation, buyers managed to push XRP back above the $0.54 level, which now serves as a crucial support. As long as the price stays above this level, XRP has a clear path to move higher and challenge the resistance at $0.60 next.
2. Buying Volume Remains Low
While buyers have managed to move the price up this week, the overall trading volume remains weak. Since the price drop at the end of September, buying volume has been unconvincing. For XRP to successfully challenge the $0.60 level, the bulls need to increase their efforts and boost the buying volume.
3. Bullish MACD on the Daily Chart
The daily MACD provides a positive signal with a bullish crossover, indicating momentum is shifting towards the buyers' side. This could be the start of a more sustained rally. Although itâs still early to be certain, a test of the $0.60 resistance could give buyers full control over the price movement.
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