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02/08 10:51

Technical analysis and XRP price target

Technical analysis and XRP price target

XRP started its downward trend on January 16. The altcoin trades at $2.3986 at the time of writing. Technical indicator on the daily timeframe, RSI points at a bullish thesis for XRP. RSI reads 37 and is sloping upwards. 

MACD on the XRP/USDT price chart shows an underlying negative momentum in XRP price trend, however the red histogram bars have reduced intensity and are shorter, meaning traders need to keep eyes peeled for a reversal. 

XRP could face resistance at the lower boundary of the Fair Value Gap (FVG) between $2.7874 and $2.8281. This marks a 16% rally in XRP price. The altcoin could find support at $2.1491, the December 31 high for XRP. 

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