XRP price sent mixed signals on Wednesday, moving sideways after a modest rebound from its Monday lows. As bulls and sellers struggle to find direction, higher key support is expected to play a crucial role in the coming few days.
XRP Price Seeking Higher Support
XRP price has defended its lifeline support at $0.52 after its reversal from a $0.43 low reached on Monday was rejected under $0.52. It appears the bulls ran out of momentum due to the general market uncertainty about high interest rates in the US, which continues to impact trader conviction.
The Relative Strength Index (RSI) return from the oversold area into the neutral region supported the initial bounce back in Ripple price. However, failure to sustain movement above 50 saw some traders retreat, possibly to wait for another confirmation of the uptrend.
Short-term support at $0.5 is important and must be defended at all costs if bulls desire for XRP to push above $0.6 resistance. However, such a bullish outcome cannot be gu
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