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3 Things to Note About Ripple Price Today
XRP bounce back as fears of war subside. Main support level: $2 Key resistance levels: $2.3, $2.6, $3
Buyer Bounces Back at Key Support In the past 24 hours, the price of XRP has bounced back above the support level of $2 and reached $2.2. Buyers returned as market concerns about the conflict in the Middle East eased. With optimism returning, the price reacted quickly and may soon test the key resistance level at $2.3.
Motivations for Price Increase on Lower Time Frames The 12-hour MACD line has had a bullish crossover today as buying pressure has increased. This is a significant change in price action signaling that sellers are exhausted. With momentum shifting to bullish, XRP has a good chance to bounce back to the $2.30 level. If it can turn that level into support, then $2.60 will become the next target for the buyers.
RSI Bounce Back After entering the oversold territory, the 4h RSI has peaked higher today, indicating that the buyers are in control. There is a possibility that the resistance level at $2.3 will reject the first breakout attempt, but if the buyers continue to maintain this volume, they have a good chance to eventually break through this level and drive XRP higher.