Analysis

Ripple Price Analysis: XRP/USD set to hike to $1.5 tomorrow

TL;DR Breakdown

Ripple price analysis is bullish today.
XRP/USD is currently trading at $1.26.
Ripple returns below $1.22.

Today’s Ripple price analysis is bullish, as we witnessed strong upward momentum during the last 24 hours, bringing XRP back above $1.25. As a result, XRP/USD will most likely rise even further in the next 24 hours.

While Ripple price analysis remains bullish, there are certain technical indicators that suggest we will see an even stronger rise today. The 20-period MA (moving average) is above the 50-period one, yet still looking to cross it in a convincing manner. This would mean that XRP/USD would gain even more upside momentum.

The RSI indicator is also positive at this time, as it managed to touch the 70 level after spending a good portion of yesterday below the 50 level. As a result, Ripple price analysis today is bullish.

If both indicators continue to cross their respective centers (70 for the RSI and 50 for the 20-period moving average), then this means that XRP/USD will continue rising.

According to the charts, Ripple price analysis today is bullish. While there are no clear indications so far, we expect the resistance level at $1.25 to fall easily for XRP/USD in the next 24 hours. Let’s see if this assumption is correct.

As always, when analyzing a coin, it is essential to look at different perspectives. In the case of Ripple, we have seen a very bullish trend in terms of price analysis, as XRP/USD fell consecutively for more than one week. During this time, the market has mostly traded below $1.20 with some periods around $1.35 or $1.38, such as at the beginning of January when XRP/USD was attempting to go past $1.50 before finally dropping below $1.20.

As you can see from the technical charts above, this is mostly a bullish period for Ripple price analysis, as we recently witnessed; we went from $0.95 (strong support level) which is slightly below the yearly low ($0,88), to $1.25, and it looks like that could rise even further.

XRP/USD 4-hour chart: XRP looking to continue higher?

On the hourly chart, we can see that ripple’s bullish momentum is still strong, suggesting that it will continue to rise throughout today.

XRP/USD 4-hour chart. Source: TradingView

Ripple’s price has been on a tear lately, with a solid higher high established. Following a significant drop on the 27th of October, XRP/USD created a solid lower low below the $1 barrier, suggesting that the market is bearish.

But beginning on Monday, October 30th, and continuing through the end of October, there was a significant reversal, followed by a consolidation near $1.10. Ripple rose to new heights on Wednesday, reaching a high of $1.26, establishing a solid higher high. As a result, the market gave an audibly clear signal that bulls were in control.

Since then, the Ripple price has dropped by just a little bit. Last night’s rapid fall to $1.10 marked a new low. The XRP/USD rate subsequently rose, bringing the price back up to over $1.16. Overall, we should see more gains in the next 24 hours as demand increases further.

Ripple Price Analysis: Conclusion 

Ripple price is currently in a strong uptrend as a solid higher low was established above $1.10 yesterday, allowing for more gains over the last 24 hours. As a result, we believe that XRP/USD will continue to rise over the next 24 hours.

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.

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