Outside Source
The XRP rally resumed this week, and buyers continue to dominate.
Key Support levels: $0.54
Key Resistance levels: $0.68
1. Buyers Return
XRP bounced from the 54 cents support after buyers rushed in. The price increased by over 10% since that level was tested. As long as they defend it, the bias remains bullish.
2. Volume Decreases
Since XRP made a local high at almost 64 cents, the volume has been falling. While this is not a concern now, it can become one if this continues. Sellers can take advantage of any weakness and push against the key support again. A second test of this key level could be interpreted as bearish.
3. Weekly MACD Remains Strong
Despite the volatility on lower timeframes, the weekly MACD provides a clear, bullish picture with higher highs on the histogram. As long as this continues, XRP can aim for new highs and even challenge the resistance at 68 cents.
This article first appeared at CryptoPotato
