XRP is consolidating above $1.30 as it prepares for another attempt to breach the key $1.40 resistance level. Analysis indicates the digital asset has tested this ceiling twice in recent weeks but has been rejected each time due to insufficient buying volume. Despite the current volume weakness, momentum indicators on the weekly chart are turning bullish for the first time in over six months, suggesting a potential shift in control to buyers in the coming week.
The cryptocurrency XRP has tested the pivotal $1.40 resistance level twice over the past two weeks. Each time, sellers successfully held the price down and halted the rally.
The price action indicates another attempt to surpass this level is likely. To successfully convert $1.40 into support, the asset will need to attract significantly more buying volume than is currently present.
While momentum indicators are curving upward and price has held firmly above the $1.30 support, current volume appears too weak to sustain a breakout. A successful move above $1.40 is expected to quickly draw new buyers aiming for the next key level at $1.60.
On the weekly timeframe, the RSI has turned bullish for the first time in more than six months. A similar trend is visible on the weekly MACD, which is also poised for a potential bullish cross.
“If nothing changes, by this time next week, this cryptocurrency is likely to break the $1.4 resistance and turn it into support,” the analysis noted. The subsequent key price targets identified are $1.60 and then $2.
