Two weeks ago moving averages of 50 and 200 days made a clear golden cross in technical analysis, which has been confirmed during the previous week. This is a positive sign for XRP as it is an indication that the trend reversal for XRP is coming in the future period. The price of XRP usually doesn’t exactly follow market sentiment, while the previous week was one of the rare weeks when the coin actually did it. It shows that investors are waiting for a clear signal to buy the dip and open long positions. However, when XRP is in question, the majority of traders are waiting for the resolution of the Ripple – SEC dispute to make a stronger buy signal for this coin.
For the last two weeks XRP found support at $0.45. There has been a short jump of the price to the resistance level at $0.5 on Friday`s trading session, after which, the coin reverted a bit, as it has not been able to break the current resistance line. RSI was pushed from level 45 up to 61, showing that the market is more oriented toward the overbought side, still, there is space for indicators to move to the higher grounds in order to reach the actual overbought side.
As per technical analysis, there are indications that the price of XRP might go higher from current levels, still, at this moment, due to lower trading volumes, it seems that the $0.5 resistance line is a limit. There is a probability that the coin will revert a bit to the downside, in order to test the support line at $0.45 for one more time, before XRP continues the road to the upside.
For the last two weeks XRP found support at $0.45. There has been a short jump of the price to the resistance level at $0.5 on Friday`s trading session, after which, the coin reverted a bit, as it has not been able to break the current resistance line. RSI was pushed from level 45 up to 61, showing that the market is more oriented toward the overbought side, still, there is space for indicators to move to the higher grounds in order to reach the actual overbought side.
As per technical analysis, there are indications that the price of XRP might go higher from current levels, still, at this moment, due to lower trading volumes, it seems that the $0.5 resistance line is a limit. There is a probability that the coin will revert a bit to the downside, in order to test the support line at $0.45 for one more time, before XRP continues the road to the upside.
