Trend reversal for XRP price?
- Upcoming trend reversal
- Key Support $0.25
- Key Resistance $0.285
1 Day XRP/USD price chart
XRP price continues its trend within the falling wedge formation. The very important price level is $0.25 where the trend line may cross the support line. If the price bounces off this support we can expect a trend reversal and future gains with the price heading towards $0.285 resistance level. In case, XRP price falls below $0.25 cents further loses are expected.
The price may break upwards from the falling wedge formation before it tests $0.25 support too. In that case, it will still require a firm close above $0.285 for bulls to take full control. There is weakening bearish pressure according to 1-day MACD indicator, but its best to wait for bullish crossover to establish any long positions.
Chart source: Tradingview
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