- Ripple price analysis is bullish for today.
- XRP/USD consolidates around $0.9450 today.
- XRP is ready to reclaim $1.00 next.
Ripple price analysis: General price overview
Today’s Ripple price is in a solid position since the market has set the stage for further growth during the previous 24 hours. As a result, we anticipate XRP/USD to exceed $1.20 next and drop below that mark later.
The RSI is balanced and trades near the indicator’s mean line at the 50 index level. On the short-term charts, the indicator’s present position allows for significant price movement in either direction. The indicator is now moving horizontally, suggesting that both sides are engaged in a battle to control the price action.
The Stochastic RSI oscillator has significantly increased its value and is now above the 80 index level, reflecting high buying pressure.
On the other hand, Bollinger Bands have contracted and are now closer to each other than before, hinting at a possible price breakout and upward movement in the coming days.
The XRP to USD exchange rate trades around $0.9450 today, after dropping to this level during the previous day.
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.
Following the news, Ripple’s price has risen significantly in recent days, with prices moving between $1.45 and $1.50 during that time. On Tuesday, however, following the high of $1.40, prices plummeted rapidly.
On the four-hour chart, you can see that XRP/USD is trading around $0.9450 today. The breakout of this area would provide an entry point for further upward price movement, allowing XRP to reclaim $1.00 next.
The Stochastic RSI oscillator has significantly increased its value this week and is now below the 20 index level, reflecting high selling pressure.
The Bollinger Bands have widened slightly and now sit one standard deviation from the moving average. This is a bullish indicator since it reflects greater price volatility, resulting in a breakout for more gains.
On the long-term chart, Ripple continues to trade near $0.61 and is consolidating around the level. As a result, we may see it rise throughout next week to $1.00 and then drop below that mark later on.
The stochastic RSI oscillator has crossed the 20 index level below but now sits near 80, reflecting high buying pressure.
Overall, the price decline 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
Today, Ripple’s price is in a solid position after breaking out of the $0.9450 area. As a result, we anticipate XRP/USD to exceed $1.00 next and drop below that mark later. However, we expect XRP/USD to recover and hit $1.20 in the next 24 hours.
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