The xrp price trend is bullish and the market sentiment is optimistic.
Key Support Level: $0.54
Key resistance level: $0.68
1. The Bulls are in control
Sellers had several chances to gain a foothold, but they did not show up. Instead, XRP has been consolidating around 60 cents and seems eager to continue higher and challenge the 68 cents resistance level.
2. The decisive moment approach
The price is getting squeezed on lower timeframes like the daily and may soon try to break out of the current range. If buyers succeed in breaking out, they can quickly push the price to 68 cents. If they fail, support currently lies at 54 cents.
3. MACD Bullish Crossover
The MACD moving average has just formed a bullish crossover on the two-week timeframe. A similar crossover occurred on the weekly timeframe a few weeks ago. This pattern indicates a major shift in price action in favor of the bulls. If sustained, resistance could be tested soon.
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