XRP/USD - Bounce of support, can we get back above $1.2? 😜
This past week, XRP broke below the $1.2 support level and continued to fall all the way to $1. As such, XRP had a disappointing performance with a 12.5% drop.
The question now is if XRP can maintain its price above $1. So long as the bulls maintain this key support level, the macrostructure will remain bullish for XRP and this last price drop can be interpreted as a higher low.
Looking ahead, volume and MACD continue to be on the bearish side, while RSI is giving some hopes of a reversal similar to ADA and ETH. If XRP bulls can stop prices from further losses, then XRP has a good chance to recover in the coming week.
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The question now is if XRP can maintain its price above $1. So long as the bulls maintain this key support level, the macrostructure will remain bullish for XRP and this last price drop can be interpreted as a higher low.
Looking ahead, volume and MACD continue to be on the bearish side, while RSI is giving some hopes of a reversal similar to ADA and ETH. If XRP bulls can stop prices from further losses, then XRP has a good chance to recover in the coming week.
Like and follow if you liked my idea!
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