- XRP is at the top of the list of gainers, with a 41 percent gain.
- The majority of the altcoins are having a good day, as the heat map suggests.
- In the early trading hours, the Bollinger bands were narrow, signaling less volatility.
Ripple price analysis: General price overview
Ripple traded in a bearish momentum towards the closure of yesterday’s Ripple price analysis chart. Today, the market started while bulls were in control; however, the bullish momentum did not take long before the sellers outnumbered the buyers, causing XRP/USD price to dip.
In the early trading hours, the Bollinger bands were narrow, signaling less volatility. XRP price was close to the lower Bollinger band, indicating a bearish trend is on the way. The dangerous bearish trend picked off quick as per Ripple price analysis.
Most parts of the cryptocurrency heat map are in green. The majority of the altcoins are having a good day, as the heat map suggests.
The giant digital assets Bitcoin (BTC) and (ETH) are having a lengthy day. Bitcoin is trading a few dollars above $48K, while Ethereaum is trading at $3.1.
REV is at the top of the list of gainers, with a 41 percent gain. Other altcoins that have recorded gains include; FTM (35%), GNO (40%), and UBT (20%). XRP/USD is trading at $1.14, which is a 3 percent gain.
Ripple price movement in the last 24 hours
The general view of the Ripple price in the last 24 hours is moderate. The 24-hours Ripple price analysis chart picked off a bull preasure that set the intraday high of $1.15 before the bears pulled it down. Sellers came in more substantial and made the price drop in an inverted triangle trend before facing resistance at intraday lows of $1.11.
XRP/USD 4-hour chart: Will XRP rally?
On the four-hour price chart, it seems like there’s light at the end of the tunnel for Ripple after having terrible early trading hours.
Observing the 4-hour Ripple price analysis chart, the MACD histogram has just moved from short red bars to long green bars, indicating a momentum change to the bulls’ advantage. The reduced size of the bars indicates that a bullish trend is on the way could be short-term and sufficient to pull the price above the intraday high.
Meanwhile, the Relative Strength Index RSI is slightly above 50 and seems to be going towards the overbought region. It indicates that the bulls are in control at the moment. However, there is little room for the bulls to continue increasing momentum with the bit of range remaining on the upper levels of today’s signals.
1-hour XRP price analysis: Indicators show possible XRP/USD surge
The Balance of Power indicator is below -0.5, meaning; the selling preasure is more than the buying pressure. Most technical indicators indicate a bullish signal despite the Balance of Power indicator favouring the sellers’ side.
Ripple price analysis: Conclusion
Most of the technical indicators signal a promising market for the XRP/USD pair. At the time of writing, the pair trades at $1.12. There is a possibility of the pair reaching $1.5 before the next trading chart opens.
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