XRP Price Prediction For March 18
The post XRP Price Prediction For March 18 appeared first on Coinpedia Fintech News
Ripple’s XRP is down by more than one percent and is currently trading at $2.30. While short-term price movements may occur, the overall trend suggests that a major upward movement is not expected at this time. Despite this, short-term bullish action may still arise, though the broader trend remains subdued.
Short-Term Bullish Price Action
In the last few days, XRP has experienced positive price movement. On the 8-hour chart, the price recently broke above a short-term resistance zone between $2.25 and $2.30. After breaking through, XRP successfully retested this level, turning it into support. According to analyst Josh of Crypto World, this technical pattern is a positive sign, as turning resistance into support typically signals bullish price action.
In the short term, this indicates a favorable outlook for XRP, with the next major resistance levels expected between $2.65 and $2.80. However, there is also resistance around $2.50 that will need to be overcome before reaching these higher levels.
Sideways Range and Lack of Momentum
Despite these recent bullish signs, XRP’s price has been stuck in a sideways range for the past month, moving within a narrow band. This lack of momentum in either direction is evident, and while short-term gains may occur, the overall market trend suggests caution due to the ongoing bearish divergence on the 3-day chart.
Expecting More Sideways Movement
Given the current technical situation and the continuing bearish divergence, XRP is likely to remain in a sideways trend in the near future. Bullish momentum is unlikely unless the broader bearish divergence is addressed. Traders should monitor the short-term bullish patterns, but the overall market direction is expected to stay sideways.
