- XRP flashed a bullish potential, but the trade volume has recently fallen
- A revision of the range of the range or just below it can offer a good buying option for swing traders
In a recent report it was emphasized that XRP registered a neutral MVRV score, but also an increased NVT metthrical. These conflicting signals showed that although the Altcoin was in line with accumulative phases from the past, its network tool was not as quickly expanded as the price.
XRP will soon be able to push past the height texts of the short -term
Source: XRP/USDT on TradingView
After the outbreak of XRP of the falling trendline resistance (white), the token had a steady upward trend. It has set consistent higher highlights and higher lows since mid -April. Moreover, the OBV has also been on an upward trend.
That is why the slow recovery of XRP was supported by a steady question. The advancing averages showed that the momentum was bullish and was dynamic support levels.
The MacD agreed with the finding of the Bullish Momentum, but it was about to make a bearish crossover above the zero line. This would indicate a delay in the upward momentum.
The Fibonacci racement levels at $ 2.47 and $ 2.7 were the next important resistance levels. They underline that the apparent recovery of XRP in the past month may be a withdrawal for the next leg south, as can be seen from price charts with a higher time.
Source: XRP/USDT on TradingView
The 4 -hour graph revealed a range of between $ 2.3 and $ 2.44. In the last few days, the Range High has rejected the bulls, while the medium -range level has served as a solid support at $ 2.37. It is possible that XRP would also oscillate between these levels in the coming week.
However, it should be noted that the Bullish Momentum of Bitcoin [BTC] Could stimulate XRP higher. In the past hours, BTC has shot past the resistance of $ 104.8k in the short term. On the other hand, the low trade volume implied that traders could wait for a large movement of the high volume to make their decision.
Source: Coinglass
The 2 -week liquidation Heatmap emphasized the area under the range of range, at $ 2.26, as the next magnetic zone. However, it is still unclear whether XRP would push lower, because the level of $ 2.37 was a firm support in the short term.
The upward BTC momentum can push XRP higher. In that case, the short liquidations can feed around $ 2.46 XRP wines. Traders must be prepared for both scenarios, with a northern movement that is more likely to the press.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer