XRP seems to have found support around 50 cents. Can buyers push the price higher this week?

Key Support levels: $0.50

Key Resistance levels: $0.54, $0.68

1. Price Finds Support

After a sharp fall last week, bulls appear to be back. XRP opened this Monday in green and is keen to return on an uptrend. As long as the key support at 50 cents holds, buyers have a good chance to return on the offensive.

Chart by TradingView

2. Sellers are Retreating

Early October saw a spike in sell volume, but now sentiment across the market is improving, which could see the momentum shift back into the bulls favor. If so, buyers can aim to take XRP back above 60 cents. However, once there, sellers could return, as in late September.

Chart by TradingView

3. MACD Momentum Shifting

After a difficult start this month, the momentum on the daily MACD is showing the first signs of a reversal, with a histogram making higher lows. If this trend continues, buyers could soon take over the price action and push XRP to break higher again.

Chart by TradingView