As a seasoned analyst with years of experience in the dynamic world of cryptocurrencies, I find myself impressed by XRP‘s performance this week. The 11% price surge is a testament to its resilience and potential for growth.
XRP performed well this week and closed with a 11% price increase.
Key Support levels: $0.54
Key Resistance levels: $0.68
1. Price Moves Higher
Following a solid hold at the 54-cent mark as a base of support, XRP experienced a surge, approaching nearly 60 cents, only to retreat temporarily. The buying pressure continues to be robust, potentially leading to an upward trend in the forthcoming week.
2. Buyers Dominate
Over the last seven days, buying activity has been stronger than selling activity on five occasions. Consequently, the price of this cryptocurrency rose, and its popularity increased. If the buying pressure persists, the current resistance at around 60 cents may struggle to hold back the upward trend.
3. Daily MACD Bullish Cross
On Friday, XRP exhibited a positive crossover, reversing its trend. Currently, buyers seem to be in charge, and this dip might not last long. If the 60 cent barrier is broken, expect 68 cents as the potential next milestone in this upward movement.
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2024-09-15 12:16