The XRP rally appears to be taking a pause. Will bears return?
Key Support levels: $0.54
Key Resistance levels: $0.68
1. Rally on Hold
In the past few days, XRP failed to make a higher high which could give an opportunity for sellers to return. At the time of this post, buyers still managed to hold the price around 60 cents. If they lose this key level, then a deeper pull back could follow.
2. Volume Continues to Fall
The volume continued to fall compared to our last update. This is an early bearish indicator. If nothing changes, then sellers are likely to push XRP closer to the most important support which is found at 54 cents.
3. Weekly MACD Remains Bullish
While the intra-day volatility continues to be high, the weekly timeframe gives a clear bullish bias. Even if XRP falls to the key support again, buyers are likely to return there.
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