XRP is moving sideways with market participants undecided on where to go next.
XRP Price Predictions to Watch This Week
Key Support levels: $2, $1.6
Key Resistance levels: $2.3, $2.6, $3
1. Buyers Hesitate
In the past few weeks, XRP failed to move away from the key support at $2 and is found around $2.17 at the time of this post. Buyers are absent and any attempt at pushing this cryptocurrency higher is quickly met by sellers. This is a sign of weakness.
2. Another Rejection at $2.3
Last Monday, the bulls tried to break the resistance at $2.3, but they were quickly stopped. Since then, the price has been moving lower and is approaching the key support. If nothing changes, buyers will have another chance to show up at $2 to reverse this downtrend.
3. MACD Weakness
The daily MACD just did a bearish cross. This is unfortunate and shows the bullish momentum is absent. It also encourages sellers to push the price lower and attempt to break the $2 support. A loss of this key level would turn the chart bearish in the short to medium term.
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