In weekly chart, XRP is re-testing 21 EMA support line which recently broke (few weeks ago) when a executive from Ripple’s company told in an interview about xRapid launch. Retesting of previous resistance level after breakout is considered to be a healthy trend reversal in Technical Analysis.
Last week’s candle made a pin bar on such support level which indicates a Bullish Price Action.
Let us Look at Daily Chart,
A blue rectangle highlighted area in the daily chart is showing strong support zone as this area has already acted as strong resistance and support level earlier. This is a psychological zone of Bears & Bulls. RSI went back down from overbought territory and is showing divergence which is also a very good sign.
As the Price of XRP is still above 21 EMA in DAILY and WEEKLY Charts, I am Bullish on this coin.
I’m expecting $ 1 USD price in next 3 months and $ 5 – $ 10 in next 6 months.
I hope u will get Info.
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