TL; DR Breakdown
- Towards the closure of yesterday’s Ripple price analysis chart, the XRP/USD experienced downswings and upswings.
- Most parts of the heat map are green which is a signal of a bull market.
- The Bollinger bands are a narrow indication that the price is undergoing low volatility.
Ripple price analysis: General price overview
Ripple’s five-day price analysis shows that the market is moderate. Ripple price has seen a 12 percent increase in the last seven days. The ripple 5-day price analysis chart started in a bear pressure that saw the coins dropping before the bulls created solid support that reversed the dangerous market trend. Since then, the market has traded moderately, both buyers and sellers dominating the market.
The moving average lines converged at one place on the 1st of this month; this indicates that more buyers intend to buy the coin; in addition, the short-term line crossed above the long-term Moving Average, indicating high bullish pressure.
The Bollinger bands are a narrow indication that the price is undergoing low volatility. However, the price of the XRP/USD pair was at the middle range of the in the band, signaling a middle market.
XRP/USD price movement in the last 24 hours
Towards the closure of yesterday’s price analysis chart, the XRP/USD experienced downswings and upswings. The price seemed to be highly volatile, as evidenced by the wide Bollinger bands.
Today the price started with a positive trend that made the XRP price hike intraday highs of $1.29, where it faced resistance from the bears who had consolidated their strength and were ready for a fight.
Sellers came into the market in large numbers, making the price drop forming an inverted triangle to intraday lows of $1.26, where the buyers had created solid support to aid them in breaking the bearish trend. The mighty bears could not break past the bull support, and soo bulls gathered their strengths and made the price start an upward trend.
XRP/USD four-hour price analysis: Upward trend
On the 4-hour price analysis chart, the market is experiencing a positive market trend.
The RSI is in the neutral region, and it is pointing towards the 70 mark. This trend is a signal of a potential long-term bull run.
The MACD line is slightly below the red line. The MACD line is pointing towards the red line, signaling a possibility of the MACD line crossing over the red line. This is a good indication that XRP/USD market bull run will continue throughout the weekend.
The MACD histogram is moderate, and there is much possibility of the next trading session being bullish as other indicators in Ripple price analysis show the possibility of the bull market dominating.
Ripple price analysis: Conclusion
The Balance of Power indicator shows that the bulls and the bears have the same strength making the price trade moderately. The bulls seem to be strategizing to spike to $1.5 over the weekend. Traders should invest inXRP/USD as there are possibilities of the market turning bullish and causing the price to surge.
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