XRP experienced a pullback in the past week. How far will sellers take it?
XRP Price Predictions to Watch This Week
Key Support levels: $2.3, $2
Key Resistance levels: $2.6, $3
1. Pullback in Progress
After buyers failed to turn $2.6 into support, sellers took over the price action and pushed XRP into a correction that drove it south by 9% since this time last week.
This has taken the price to the $2.3 support, which appears to hold at the time of this post. If selling intensifies, then the next key support level is found at $2.
2. Momentum Shifts Bearish
The recent reversal has turned the momentum indicators bearish. This can also be seen on the daily volume, which shows multiple days in the past week closing in red. Buyers appear absent, which has encouraged selling that can extend this pullback.
3. MACD Bearish Cross
Three days ago, the daily MACD made a bearish cross. This is a significant change in the momentum and will likely keep XRP bearish in the short to medium term. If so, the support at $2.3 could fall and see the price revisit, or at least approach, $2 again.
