December 6, 2022

Ripple Price Analysis: Are XRP Bulls Preparing For Another Shot at $1.4?

2 min read

Key Support levels: $1.2

Secret Resistance level: $1.4

If the ascending channel does not break, XRP looks primed for a rally towards the resistance at $1.4. At the time of this writing, XRP was simply above the support level at $1.2 which may provide a tentative entry if the bulls come in force to take the cryptocurrency greater. The momentum and volume are low today, but this can change in an instant thinking about XRP’s past performance.

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Chart by TradingView Technical Indicators Trading

Volume: Volume was low over the weekend and this hasn’t altered today also. Regardless of this, the bulls had the ability to keep XRP above $1.2 and might press rates higher in the

next couple of days. RSI: The RSI is curving up on the everyday timeframe which may cause a great rally if sustained. MACD: On the 4-hour timeframe, the MACD is bullish, and considering that the rate is at the assistance level, the likelihood of a rally increases. On the daily timeframe, MACD did a bearish cross on the moving averages 2 days earlier, however this will just become a concern if the XRP cost falls listed below the crucial assistance.

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Chart by TradingView Bias The bias is bullish on XRP as long as the rate does not fall under $1.2. The signs are likewise offering some good hints that the rate might move higher soon.

Short-Term Prediction for XRP Price

The most crucial target on the chart right now is the $1.4 level representing the essential resistance. During the last push higher, the bulls were declined by the bears prior to reaching this level. Nevertheless, the current price action reveals that bulls might be preparing for another effort. Up until then, XRP needs to continue to hover simply above $1.2.