XRP is holding steady at $1.4. Where will it go next?
Ripple (XRP) Price Predictions: Analysis
Key support levels: $1.4
Key resistance levels: $1.6
XRP Consolidates Around $1.4
After sellers halted the bullish momentum at the $1.6 resistance, XRP entered a pullback and held well above the key $1.4 support. So far, market participants have found equilibrium at this level, but it is unlikely to last.
Based on the price action, another test of the key resistance appears likely, especially if the support continues to hold in the coming days and weeks. On the other hand, a loss of $1.4 would encourage sellers to push lower.
Reversal Postponed
With the resistance at $1.6 still intact, a clear reversal will require more time to materialize and will be confirmed as soon as this level breaks and turns into support. Until then, the price may continue to move sideways.
Volume is also flat, which is indicative of a low volatility period. Nevertheless, when buyers return to re-test the resistance, the volume could spike and send bulls into a new rally.
RSI Bullish Cross Imminent?
On the weekly chart, the RSI appears inches away from a bullish cross. This is an important signal that the market wants to turn bullish. Now the question is if bears will allow it, since so far, they have managed to contain any rally.
Either way, by the end of March, the price could make up its mind by attempting to break away from its current range between $1.4 and $1.6, with pressure building up right now.
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