XRP is moving sideways with market participants undecided on where to go next.
XRP Price Predictions to Watch This Week
Key Support levels: $2, $1.6
Key Resistance levels: $2.3, $2.6, $3
1. Buyers Hesitate
In the past few weeks, XRP has struggled to break away from the key support at $2, currently trading around $2.17. The noticeable absence of buyers means any upward movement is quickly met by selling pressure, indicating a sign of weakness in the market.
2. Another Rejection at $2.3
Last Monday, bulls attempted to breach the resistance at $2.3 but faced immediate rejection. Since that time, prices have declined, drawing closer to the critical support level. Should conditions remain unchanged, buyers will have another opportunity at $2 to attempt a reversal of this prevailing downtrend.
3. MACD Weakness
The daily MACD just executed a bearish cross, which is unfortunate as it indicates a lack of bullish momentum. This trend further encourages sellers to drive the price down, posing a threat to the critical $2 support. A break below this key level would alter the chart’s trajectory into a bearish outlook for the short to medium term.
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