XRP consolidates under 1.2 USD within a key area, sometimes a big step?
XRP consolidates under 1.2 USD within a key area, sometimes a big step?
key support level: $ 1
key resistance level: $ 1.2
The XRP price campaign is caught between support and resistance or 1 USD and USD 1.2. The pressure builds on and XRP seems ready to explore higher levels. To do this, however, the price must climb over 1.2 USD with confidence and increasing volume.
The price has also formed a parabola (in yellow) that extends by March 2020. As long as it does not fall, the tendency remains bullish at XRP.
indicators
volume: The volume has remained flat in the past two weeks and shows a certain indecisiveness on the way forward. Nevertheless, there are some early signs that the bulls have the upper hand, as the price shows, which reaches higher deep stalls in the daily time frame.
rsi: The RSI is steadily moving up with the price movement. There are no signs of a trend reversal.
macd: The moving average are to complete an interest bully cross in the 3-day time frame. The histogram is a day away from crossing the positive side. This shows that XRP could go higher. Nevertheless, it is important to observe the price movement to resist $ 1.2.
bias
The current tendency is bullish. However, the price must break the resistance of USD 1.2 so that the bulls gain more trust. There are some early signs that this could be the case soon, but it is always best to wait for confirmation (an outbreak).
breaking up the resistance can lead to a rally, while a case of below $ 1 would change the tendency to bear. As long as the yellow parabola remains intact, there are enough reasons to maintain a bullish tendency (see first picture).
Short -term price forecast for XRP
XRP is on a clear way to test the resistance at 1.2 USD. The question is whether it can break it. If that happens, the next big resistance for XRP will be $ 1.6. On the other hand, a falling below the support at 1 USD XRP could quickly push to $ 0.85, which is the next important level of support.
The above analysis was written by du09 .
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