The XRP price barely moved, but it pumped 6 % this week. So, where can XRP go today? Let’s discover.
XRP graph analysis
XRP is trading at about $ 2.21 at the present time. I recently tried to break more than $ 2.24 -2.26 dollars, but he could not keep this level. The price has strong support at $ 2.05, with stronger support at $ 1.97 as the moving average sits for 200 days.
The graph shows a formation of its highest level, indicating that the upward trend may continue. After the significant decrease on April 7, the XRP wore a strong and rounded bottom. Since then, the price has been steady, indicating a healthy recovery. The moving average indicates for 200 days and operates as a strong support for about $ 1.97, which is important to see whether the market turns into a decline.
Technical indicators
CCI stands at 126.86, and places it in the peak area. This means often that the short -term withdrawal can happen unless the momentum continues to build.
ADX It is in 30.29, which indicates the formation of a strong direction. When ADX is higher than 25 years, it confirms that the market is heading, in this case up.
The final oscillator reads 56.64, a little up, but it is not very hot. This indicates that the upscale trend is healthy and sustainable.
ROC is 12.29, and it is positive and powerful. This means that XRP has a good momentum recently.
Bull/Bear Power is located at 0.1021, indicating that the bulls have a slight advantage in the market, but it is not a complete control.
Also read: XRP Supply Series: Special Keys at risk in a ripples
XRP price: support/resistance areas
The main resistance levels to watch:
- First Resistance: $ 2.24-2.26 dollars (modern high)
- The second resistance: $ 2.35 (resistance from early April)
Important support levels:
- First support: $ 2.05 (modern support after decline)
- Second support: $ 1.97 (corresponding to the moving average for 200 days)
XRP price expectations for today
The upscale scenario: If the price of XRP exceeds $ 2.20 and increases the trading volume, a break above $ 2.26 may pay the price to $ 2.35 to $ 2.40. With a strong momentum, it may test $ 2.50 before the end of the week.
This bullish step can occur if:
- XRP exceeds $ 2.26 with a strong size
- The relative strength indicators remain at the bottom of the peak (currently in 64)
- The bullish direction continues, ADX confirmed above 30 and RISING ROC
Detamental scenario: If the price of XRP decreases to less than $ 2.17 -2.15 dollars, especially with a high sales volume, XRP can re-test 2.05 dollars support. It may restore it more severe to the moving average for 200 days about $ 1.97, especially if the market news turns into negative.
Watch these descending signals:
- CCI decreased from peak levels
- Failed attempts to break over $ 2.26
- Reducing size or forming a reflection candle patterns
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