XRP performed well this week and closed with a 11% price increase.
Key Support levels: $0.54
Key Resistance levels: $0.68
1. Price Moves Higher
After firmly securing the 54 cents level as support, XRP rushed higher and almost reached 60 cents before a pull back followed. Buy momentum remains strong and could see the price move higher in the coming week.
2. Buyers Dominate
In the past week, buy volume exceeded any sell pressure in five out of seven days. This translated in a higher price and increased demand for this cryptocurrency. The current resistance around 60 cents will not be able to stop this buy pressure if it continues.
3. Daily MACD Bullish Cross
XRP also made a bullish cross on Friday which turned the momentum around. Buyers are controlling the price action right now and this pull back could be short lived. If the 60 cents resistance falls, look for 68 cents as the next target for this rally.
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