XRP Rallies Above $0.65, But Massive Resistance Awaits

XRP managed to break above the key resistance at $0.65 on Friday, as the price has been consolidating above this level since then. The question is if $0.65 can be tested and confirmed as support so that XRP can continue even higher.

Key Support levels: $0.65, $0.58

Key Resistance level: $0.70, $0.79

Ripple’s XRP had seen a green weekend so far, managing to hold above $0.65, which has now turned into support.

There seems to be a break in momentum, indicating some indecision in the price action. The next challenge for XRP is to break the key resistance at $0.70, which would open the way for a $1 attempt once again.

Technical Indicators

Trading Volume: Decent amount of volume on Friday and Saturday. However, today’s volume (Sunday) is quite low.

RSI: The daily RSI has made a higher high, therefore a possible pullback is likely. This will be a retest of the key support at $0.65 before continuing.

MACD: The daily MACD remains bullish and has sufficient momentum behind it even considering today’s low volume. The histogram continues to make higher highs which is bullish.

Bias

The current XRP bias is bullish. However, the $0.70 resistance does not leave a lot of room for the price to move higher without a pullback or consolidation.

Better keep a close eye on Monday’s price action to assess the next move for XRP.

Short-Term Prediction for XRP Price

XRP has turned bullish over the weekend, as long as it maintains the key support. If momentum continues, a break above $0.70 becomes likely. However, the latter could be challenging as sellers will likely fight at resistance before letting XRP move higher towards $1.