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Ripple price analysis: XRP/USD is bearish in the next 24 hours

Aave price analysis

TL; DR Breakdown

  • Today’s Ripple price analysis is bullish, as the market increased from $1.08 to $1.25.
  • The Balance of Power indicator suggests that the sellers have more strength than the buyers.
  •  Ripple’s price action has been characterized by solid bullish momentum in the last one week.

Ripple price analysis: General price overview

Today, our Ripple price analysis is bullish, as the market increased from $1.08 to $1.25. The $1.25 was defended by buyers, who rejected a string of negative factors below the daily low of $1.08. We anticipate the meme coin to defend the $1.25 mark and advance toward the next significant support level at $1.38 to $1.35.

Over the last 24 hours, the cryptocurrency market has fluctuated. Bitcoin improved by 2.1 percent, whereas Ethereum remained essentially flat, gaining 0.54 percent in value. CELO was the standout performer, with a 40% increase since yesterday.

Ripple price analysis: XRP/USD is bearish in the next 24 hours 1

Source: Coin360

Ripple price movement in the last 24 hours: Bearish trends

The Bollinger bands are wide, indicating that many activities are taking place on the daily price analysis chart. The price is lying on the lower band, and it might cross over the lower band. This indicates the market is bearish, and it intends to dip further.

The Balance of Power indicator suggests that the sellers have more strength than the few buyers in the market.

XRP/USD 4-hour price analysis chart: XRP/USD aims at surpassing the intraday highs

We are in a time of consolidation for Ripple’s price, which may be seen on the 4-hour Ripple price analysis chart. As bulls take up residence around $1.12, planning to break above $1.25, we see that the Ripple price builds an upward momentum.

Ripple price analysis
Source: Tradingview

Ripple’s price action has been characterized by solid bullish momentum over the previous seven days. On Tuesday, however, a substantial drop was observed after the price hit $1.40.

Over the next 24 hours, this price development should push Ripple to further gains, with a target of $1.25 as the next level to reach. When XRP reaches the $1.25 mark, it will most likely attempt to break higher highs.

The RSI is in the neutral zone, with signals of climbing to the overbought region in the next 24 hours. The market is trading in a moderate trend as the bulls prepare for a surge.

Ripple Price Analysis: Conclusion 

The outlook for today’s Ripple price is optimistic following the formation of a higher low at opening the daily chart. As a result, we anticipate XRP/USD pair to rise over the next 24 hours and breach the $1.14 price barrier.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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