From the desk of CryptoPotato comes this week’s price forecasts for Ripple (XRP). It’s been a rollercoaster ride for XRP, peaking at $2.2 before market forces exerted downward pressure.
Key Support and Resistance Levels
The support level for XRP currently stands at $2, with resistance levels at $2.3, $2.6, and $3. The bulls made a robust comeback at the $2 mark, propelling XRP into an upward trend. However, the bull run hit a snag at the $2.2 milestone, allowing the bears to regain control and trigger a price pullback.
Positive Momentum
Despite XRP not hitting a new high, momentum markers on the day-to-day timeline have turned bullish in recent days. This could be an indication of a potential breach of the $2.3 resistance level, irrespective of the current pullback.
MACD Indicates Higher Peaks
While XRP’s price needs more time to reach new heights, the daily MACD histogram has already flipped to bullish and is making higher peaks. This is a positive sign that the price might follow the MACD’s trajectory in the near future. Unless there’s a sudden surge in selling, XRP stands a chance to challenge the $2.3 or even the $2.6 levels.
