XRP bounce back as fears of war subside.
Main support level: $2
Key resistance levels: $2.3, $2.6, $3
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Buyer Bounces Back at Key Support
In the past 24 hours, the price of XRP has bounced back above the support level of $2 and reached $2.2. Buyers returned as market concerns about the conflict in the Middle East eased. With optimism returning, the price reacted quickly and may soon test the key resistance level at $2.3.
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Motivations for Price Increase on Lower Time Frames
The 12-hour MACD line has had a bullish crossover today as buying pressure has increased. This is a significant change in price action signaling that sellers are exhausted. With momentum shifting to bullish, XRP has a good chance to bounce back to the $2.30 level. If it can turn that level into support, then $2.60 will become the next target for the buyers.
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RSI Bounce Back
After entering the oversold territory, the 4h RSI has peaked higher today, indicating that the buyers are in control. There is a possibility that the resistance level at $2.3 will reject the first breakout attempt, but if the buyers continue to maintain this volume, they have a good chance to eventually break through this level and drive XRP higher.
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