XRP appears to be consolidating before its next major move.
Key support levels: $1
Key resistance levels: $1.4
Over the past few weeks, XPR has been moving flat around $1.4, currently acting as key resistance. This price consolidation around this level can be interpreted as bullish since sellers were unable to secure a lower low.
This price action is encouraging buyers to return, and the current weekly candle is green. If it closes the week like this, then the resistance will likely break and turn into a key support.
With sellers unable to push the price lower, XRP has been moving sideways. This is a key signal that the market structure may be about to change. This makes a reversal possible in the future.
While buyers still appear shy here, they are slowly gaining momentum. This will likely be amplified as soon as the $1.4 resistance falls. Should they fail, then XRP has solid support at $1.2 and $1.
The 3-day MACD crossed bullish, which is a major signal that momentum is turning bullish. If this is sustained in the coming week, then higher price levels appear inevitable.
A clean break above $1.4 will also open the way for XRP to test the $1.6 and $1.8 resistance levels next. Bears will be in serious trouble at that point because it opens the way for this cryptocurrency to retest $2.
The post Ripple (XRP) Price Predictions for This Week appeared first on CryptoPotato.
