XRP Price Forecast: #BULLS to Hold $0.50 Support
Drawing inferences from the market data analyzed above, a stable open interest could keep #XRP price above $0.50 in the days ahead. However, the prospect of a definitive rebound toward $0.60 still relies heavily on demand returning to the broader crypto markets.
On a positive note, the Bollinger bands technical indicator shows that XRP is currently trading just above the 20-day #SMA at $0.51, giving bulls the upper hand in the near-term.
If the bulls move to extend the recovery phase further, they could face a major resistance at $0.55, as depicted by the upper-limit Bollinger band indicator.
On the contrary, the bears could seize control if XRP loses the $0.45 psychological support. However, that outcome seems unlikely in the near term with the open interest holding steady, and a potential buy-wall mounted at the $0.48 level.
Disclaimer: This content is informational and should not be considered financial advice.
buy,hold and trade on your own risk
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