- Ripple price analysis is bullish for today.
- XRP/USD consolidates around $0.9450 today.
- XRP is ready to reclaim $1.00 next.
The Ripple price is in a good position today since the market has established a foundation for further gains over the previous 24 hours. As a result, we expect XRP/USD to surpass $1.20 next and establish new lows from there.
The cryptocurrency market is in the red zone, with most cryptocurrencies declining in value. Bitcoin fell by 1.16%, Ethereum dropped by 3% today, and Binance Coin decreased by 2.79 percent. On Tuesday, Avalanche was the best-performing altcoin, rising 6%.
Ripple price movement in the last 24 hours: Ripple crashes around $0.9990
XRP/USD has been trading in a range of $0.85755 to $0.9471 during the previous 24 hours, suggesting little price volatility. Trading volume has decreased by 53.09 percent and stands at about $5.74 billion, while the overall market value is roughly $52.34 billion, putting it in seventh place among the top 10 altcoins by market cap.
XRP/USD 4-hour chart: XRP ready for further upside?
The Ripple price began to build momentum for another advance after a consolidation today on the 4-hour chart.XRP/USD 4-hour chart.
Ripple has had a strong bull run in recent days, with price action fluctuating between $1.45 and $1.50 in that time. However, on Tuesday, following the high of $1.40, prices fell swiftly.
On April 16, Ripple’s XRP/USD pair fell to $0.94, resulting in a decline of 33 percent. From there, Ripple rebounded and returned to above the $1 level the next day. Consolidation took place around $1.10, where XRP is now waiting for the next advance.
Overall, the decline in price will lead to more upside for Ripple over the following 24 hours, with the $1.20 mark as its next objective. When XRP reaches $1.20, it is likely to set new highs.
Ripple Price Analysis: Conclusion
The Ripple price analysis for today is positive, as the market has consolidated around $1.10 and laid the groundwork to rise even more. As a result, we anticipate XRP/USD to climb later today and target the $1.20 resistance level thereafter.
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