Analysis

Ripple price analysis: XRP soars to $0.4326 after a successive bullish run

Ripple price analysis: XRP soars to $0.4326 after a successive bullish run

TL;DR BreakdownRipple price analysis shows an uptrend
Resistance for XRP/USD is present at $0.4339
Support for Ripple coin is seen at $0.388

Recent Ripple price analysis shows that the coin has been on a bullish run, with the price rising from $0.38 to its current value of $0.4326. This is a good sign for the bulls, as it shows that they are in control of the market. The next resistance for XRP/USD is seen at $0.4339, and if the price can break above this level, it is likely to rise to $0.44. On the other hand, if the price fails to break above $0.4339, it is likely to fall to $0.388 support.

The Digital asset has gained over 8.06% in the last 24 hours, and it is currently trading above the $0.42 level. The coin has a market capitalization of $21 billion, and it is ranked 6th on CoinMarketCap.The 24-hour trading volume of the cryptocurrency is $3.71 billion.

Ripple price action on a 1-day price chart: LINK/USD forms a bullish engulfing pattern

The 1-day price chart for Ripple price analysis is going in the favor of the bulls once again, as they have regained their momentum after facing loss. The price value has gone through some improvement since yesterday this is really encouraging for the buyers who are intending to control the market and enhance the cryptocurrency value even further.

Ripple price analysis: 24-hour chart. Source: Trading View

Meanwhile, if we talk about the moving average value in the 1-day chart, then it is found resting at the $0.4332 level, which is acting as a strong resistance for the XRP/USD pair. The RSI indicator is moving in an upward direction and it has reached the 56.49 level, The Bollinger bands have started to widen, which indicates that the market volatility is increasing and we can see some good price action in the days ahead.

Ripple price analysis 4-hour price chart: XRP/USD retraces from highs as bulls take a breather

Ripple price analysis on the 4-hour chart has shown that the coin has retraced its highs as the bulls take a breather. The last few hours have been volatile for the coin, as it has seen a lot of ups and downs. Currently, the price is trading around the $0.43 level, and it looks like the bulls are preparing for another push higher.

Ripple price analysis: 4-hour chart, Source: Trading View

The upper Bollinger bands are currently at $0.4376, and the lower Bollinger bands are at $0.4288. The bullish momentum may intensify in the upcoming hours if the buyers put in more effort. The moving average (MA) is also at a lower height as compared to the current price and is present at $0.4309. The RSI score has increased as well because of the ongoing bullish trend and has gone up to index 60.82 just below the centerline of the neutral zone.

Ripple price analysis conclusion

Ripple price analysis shows that LINK is currently in a strong uptrend as the bulls take control of the market. The technical indicators are all indicating a bullish trend, and we can expect the prices to head towards $0.44 in the near future.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Related Articles

Leave a Reply

Your email address will not be published.