- Ripple price analysis is bullish for today.
- XRP/USD set another lower high.
- XRP trades in an increasingly narrow range.
Ripple price analysis is bullish today as consolidation in an increasingly tighter range has been established over the past days after a strong drop last week. Therefore, we expect that bears are finally exhausted and a reversal will follow.
The overall market traded in the red over the last 24 hours. The market leader, Bitcoin, lost 3.52 percent, while Ethereum declined by 5.44 percent. Meanwhile, the rest of the top altcoin follow the majors, with a 4-6 percent loss.
Ripple price movement in the last 24 hours: Ripple consolidates around $0.95
XRP/USD traded in a range of $0.9211 – $0.9692, indicating mild volatility over the last 24 hours. Trading volume has declined by 11.95 percent and totals $2.7 billion, while the total market cap trades around $43.3 billion, ranking the coin in 6th place overall.
XRP/USD 4-hour chart: XRP to break higher today?
On the 4-hour chart, Ripple price action trades in an increasingly tighter range, indicating a strong move to follow later this week.
Ripple price action saw bearish momentum overall this month. After the first spike lower on the 7th of September, a more than week-long consolidation followed.
On the 20th of September, another drop followed to the $0.90 mark, where consolidation was formed again. So far, the $0.90 support has been retested several times, with lower highs set.
Overall, this Ripple price action development indicates an upcoming reversal as bears are finally exhausted. Once another higher low is set, we should see an attempt to break higher.
Ripple Price Analysis: Conclusion
Ripple price analysis is bullish today as a base from which to move higher has been established over the past few days. Therefore, we expect XRP/USD to break higher and finally set a higher high over the next days.
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