This week, buyers have returned to the XRP market, lifting the price to $3, but in the following days, the asset slipped below this mark. Let's explore key support and resistance levels.
Return of Buyers in XRP Market
Over the past week, the buying volume of XRP has surged, contributing to its price rise. The asset jumped from $2.3 to $3 in less than a week, representing a 30% increase. This is the first time the cryptocurrency has attempted to breach the $3 resistance since March.
Critical Resistance Under Pressure
XRP is currently hovering around the $3 level, which is a key resistance point. If the price breaks this level, there is a significant chance it could rise much higher, potentially reaching new all-time highs. Conversely, if it fails, sellers are likely to return, indicating weakness in the market.
Weekly MACD Turns Bullish
Importantly, the weekly MACD has turned bullish this week. This signals a potential for sustained growth in the future, despite any pullback at the current resistance. Based on this momentum indicator, the $3 level may eventually be broken, allowing the cryptocurrency to rise significantly with key targets at $3.4 and a new all-time high of $3.6.
Monitoring the resistance level and MACD dynamics in the coming days will be crucial for determining the future price direction of XRP.
