- 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
The Ripple price is in a strong position today since the market has laid the groundwork for further growth over the previous 24 hours. As a result, we anticipate XRP/USD to exceed $1.20 next and then establish new lows from there.
The RSI is neutral and trades near the indicator’s mean line at the 50 index level. The indicator’s current position allows for significant price movement in either direction on the short-term charts. The indicator is currently moving horizontally, suggesting that both sides are currently battling to establish control over the price action.
The cryptocurrency market as a whole has been in a bullish mood during the last 24 hours, with most of the major tokens displaying an upswing. Bitcoin, the world’s most popular digital currency, is presently valued at $43.K and aims to recover past the 50K barrier. Ether is trading with a few dollars above $3.0K with a 4 percent increase. The bulls are eyeing ETH’s target of $3.5K as their next stop. Buyers intend to bring BNB back to its previous value before the current price dip. Currently, BNB is trading at $378. Dogecoin is also trading in a promising trend recording a slight price surge.
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 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
The MACD is displaying a green histogram, which indicates that the market is bullish. The indicator made a crossover last night and has been trading in favor of bulls since then. Although the momentum improved in the first 24 hours after the crossover, resistance at $21 prevented price movement from developing further, and momentum waned.
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