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XRP price shows signs of bullish pressure

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  • XRP price shows bullish signs
  • Key resistance is $0.26150
  • MACD indicator is in the “green”

1 Hour XRP/USD price chart

The price of XRP against U.S. Dollar managed to gain some ground after setting support at $0.22700. The first key resistance level at the moment is $0.26150. This level of resistance is yet to be tested since the recent price drop. On the 25th of September, MACD indicator registered bullish crossover on 1-hour chart. XRP price gained several percents since that move and continues to trade sideways while showing signs of bullish pressure. A horizontal channel can continue to form under bullish pressure in the short term unless bearish crossover occurs.

Money Flow Index (MFI) indicates that XRP is far from being overbought at the moment, so there is a good chance for the price to crawl higher or even start an uptrend. That claim can be supported by the fact that MFI is below the value of 20 on a weekly chart, suggesting XRP is oversold.

Chart source: Tradingview

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