Ripple (XRP) Price Predictions for This Week

$XRP is determined to move above $1.4. If secured, $1.6 is next.

Ripple ($XRP) Price Predictions: Analysis

Key support levels: $1.3, 1

Key resistance levels: $1.6, $1.4

$XRP Eyes $1.4

This week, $XRP is up 4% and appears ready to reclaim $1.4, which is currently acting as a key resistance level. If successfully reclaimed, then this cryptocurrency has a good shot at returning to $1.6, where sellers rejected the price in mid-March.

With momentum favoring the bulls, a reversal here is likely, even if it is only a temporary rally within a much larger downtrend. To exit the downtrend, the price will have to move above $1.6 and hold that level.

Source: TradingView

Buyers are Returning

Buyers are returning this week, even if they still appear shy. While this weekly candle is bullish, it needs to close like this to give a clear signal. Nevertheless, a reversal appears likely because the price has been in a prolonged downtrend, and a relief rally is overdue.

In the past, buyers managed to spike the price to $1.6, but that resistance level rejected any attempts to move higher. A new test of this resistance would be interpreted as bullish and give $XRP a new chance to exit its downtrend.

Source: TradingView

Weekly RSI Bullish Cross

There is good news for buyers since the weekly RSI is already bullish and above its 14-day moving average. This is the first time in months that the RSI managed this. The only unknown is if $XRP can close the week like this.

If the RSI remains bullish by Sunday, the chance of a rally is very high, as buyers will likely return in force if they see an opportunity to join a new $XRP rally. Historically, $XRP is a momentum coin that can move very fast once volume returns.

Source: TradingView