Ripple (XRP) Price Predictions for This Week: Will Bulls Break Resistance?
XRP teeters on the edge of a breakout—or breakdown—as traders brace for volatility.
Key levels to watch: Can Ripple's army of retail investors push it past stubborn resistance, or will institutional skepticism drag it down again?
Meanwhile, Wall Street still can't decide if crypto is 'the future' or just an elaborate tax dodge.
1. Correction Amplifies
Since touching the $3.6 level, Ripple’s token entered a correction and is making lower highs and lower lows. Most recently, the downtrend intensified with sellers making their presence known by taking the price to the $3 support level. If they manage to break it later, then bears will be able to test the support at $2.7.
2. Momentum Stays Bearish
In the past two weeks, the momentum turned bearish for XRP. Both the MACD and the RSI indicators crossed into bearish territory and continue to make lower lows at the time of this post. This indicates that the correction is in full swing and there is no reversal in sight yet.
3. Sellers Dominate
A quick look at the volume profile shows that in the last 15 days, sellers have absolutely dominated by closing five consecutive 3-day candles in red. This is slightly atypical considering that XRP had such a strong rally prior to this.
However, the volume profile is making lower lows, which indicates exhaustion from sellers. This opens the opportunity for buyers to return later on.
