The price of XRP shows a number of positive signs, although it still experiences a short -term cooling. At the time of writing, XRP acts at $ 2.31 and it has been considered to break some important resistance levels.
According to the latest analysis, XRP remains on the Daily Chart in a bullish trend because it continues to form higher lows and higher highlights. This type of price movement is usually seen as a healthy sign on the market.
In the meantime, the stock market and various other cryptocurrencies have also started jumping back, which could support the price of XRP in the short term. Add to this, Analysts have the Early signs of a bullish divergence on XRPs 6-hour Relative strength index (RSI).
This happens when the price remains lower or remains flat, but the RSI is slowly rising and forms higher lows and higher highlights. This is often a signal that the market could quickly see a recovery in the short term or at least a break of the recent downward trend.
Main support and resistance levels to view:
However, it is important to remember that this signal just does not guarantee a large rally. It can lead to a small upward move or a lateral price action, which gives traders and investors a break of the Bearish pressure that is recently seen.
Looking at the larger whole, XRP still has a larger bullish trend on the daily period, at least for the time being. In terms of price levels, XRP is confronted with light resistance around $ 2.35, with more resistance expected at $ 2.44. The strongest resistance area is currently between $ 2.55 and $ 2.62. On the other hand, XRP has considerable support between $ 2.10 and $ 2.15, along with another important level of support near $ 2.30.