Current analysis of Ripple (XRP) prices shows interesting trends, including key support and resistance levels that may affect its value this week.
XRP Price Breakout
In recent days, XRP broke out of the descending triangle and rallied towards the $3 mark. If buyers can hold this price as a support level, it opens the way for the next resistance level at $3.2 or even $3.6.
Returning Bullish Momentum
With bulls gaining strength, XRP has a real chance to continue its price increase following this breakout. The key factor for this is an increase in buying volume in the coming days. So far, the breakout occurred on low volume, which raises caution.
MACD: New Highs
The upward trend is also visible on the MACD, which made a clear bullish cross this week and now appears ready for new highs. Hopefully, the buying volume increases to sustain the uptrend in the upcoming weeks.
Overall, the situation around XRP shows the possibility of further growth; however, the sustainability of this trend depends on increasing buying volumes and confirming key support levels.
