- Ripple price analysis is bearish today.
- XRP/USD failed to break new highs overnight.
- Bearish momentum has returned today.
Ripple price analysis is bearish today, as the previous swing high was rejected overnight, reversing the price. As a result, we anticipate XRP/USD to backtrack and look for support at $1.01.
Ripple price movement in the last 24 hours: Ripple fails to surpass $1.09, its previous high.
Ripple forms a new swing high at $1.09, then reverses price action XRP/USD falls to a daily low of $0.91 XRP/USD rallies back up to test resistance at $1.02 before backing down Ripple price analysis is bearish today.
Ripple price analysis signals that the market is in a strong uptrend, with further support found at $0.86 and $0.80Suppose the market can break above resistance at $1.00 for XRP/US. In that case, we expect immediate resistance to be located at the 100-day moving average, which is currently hovering around the $1.04 price level and the $1.09 swing high again.
Further resistance above these levels can be located at $1.09, followed by another higher resistance found at $1.34 (the previous all-time high).
Ripple price analysis signals that the market is in a strong uptrend, with further support found at $0.86 and $0.80
On the daily chart, the price action is still trading inside a short-term range with both support and resistance held between $0.86 and $1.09. XRP/USD has begun to show some signs of consolidation, trading in a sideways manner with range-bound action.
Ripple price analysis signals that if the market can break above resistance at $1.09, we expect immediate resistance to be located at the 100-day moving average around the $1.34 level and then near term higher resistance found at $1.45 (resistance from the previous all-time high at $1.45).
Suppose XRP/USD falls below support at $0.86. In that case, we expect immediate support to be located at the short term .886 Fibonacci Retracement level priced at $0.80, followed by another round of higher support found at a medium-term 1.272 Fibonacci Extension level priced at $0.77, and lastly, the psychological round number handle of $0.70.
XRP/USD 4-hour chart: XRP/USD in promising signals
XRP/USD 4-hour chart. Source: TradingView
Ripple price analysis shows that Ripple has been trading within a strong uptrend, with price action now testing yearly highs at $1.00 today. XRP/USD recently broke through the 100-day moving average, triggering a strong bullish signal for Ripple.
On the 4-hour chart, we can see that price action has begun to show signs of consolidation after ascending from $0.20 to $0.93 in just over a month, which is common after such significant gains are made.
Ripple price analysis shows signs of consolidation after an uptrend XRP/USD has formed tight upper and lower limits between the .618 Fibonacci Retracement level priced at $0.88 and the bearish .5 Fibonacci Retracement level priced at $0.93, further bolstering the fact that price action has found temporary support here.
Ripple Price Analysis: Conclusion
In my opinion, Ripple looks bullish both in the short-term and long-term outlooks, with price action trading near major support levels. Suppose the market can break above resistance at $1.09 for XRP/USD. In that case, we expect immediate resistance to be located at the 100-day moving average around $1.34 and near term higher resistance found at $1.45 (resistance from the previous all-time high at $1.45).
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