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$XRP downtrend resumes. Can buyers put a stop to it?
Ripple ($XRP) Price Predictions: Analysis
Key support levels: $1
Key resistance levels: $1.4
$XRP’s Downtrend Resumes
After the price spiked in both directions, sellers appear to have gained the upper hand, as they managed to defend the $1.4 resistance, which is currently preventing bulls from regaining the initiative.
At the time of this post, $XRP is struggling to hold above $1.35 and may retest the $1.28 level, which briefly halted the downtrend last week.
Bears Have the Initiative
With the past two weekly candles closing in red, sellers have full control over the price action right now. This makes the outlook bearish and may open the way for $XRP to fall all the way to $1. This is the most important support level on the chart.
Buyers could return around $1.2, but it is too early to say if they will manage to reverse the downtrend there since any weakness could encourage sellers to increase their pressure.
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MACD Wants to Reverse
The MACD is already bullish on the daily timeframe and is signaling a potential reversal on higher timeframes, such as the 3-day view. The histogram is making higher lows and appears ready to move to the positive side.
If the 3-day MACD crosses bullish, buyers will have a clear opening to regain control of the price and begin a relief rally. That will be confirmed if they manage to turn $1.4 into a key support later on.
