Another attempt at XRP growth
As its price begins to show signs of strengthening, XRP is poised for another upside attempt. This served as a crucial support level when XRP recently pulled back to its 26-day exponential moving average (EMA).
For traders hoping for another breakout, this bounce off the 26 EMA suggests that the asset is trying to maintain its upward momentum. Trading volume is declining, which is a worrisome factor. As a rule, a sharp increase in trading volume is required to maintain price momentum, especially when important resistance levels are broken.
Short-term upward pressure on XRP may be hampered by declining volume, indicating a lack of buying pressure. The state of affairs right now offers conflicting opportunities. Clearly, there is still some buying interest around these levels, making the 26 EMA support a positive indicator.
However, volume is low, indicating that interest may not be enough to push XRP to record highs. A sustained upside move could be supported by increased volume, so traders should keep an eye on these levels.
