Ripple Price Analysis: XRP swiftly spikes to $1.09

XTZ price analysis

TL;DR Breakdown

  • Ripple price analysis is positive on the 24-hour chart
  • XRP/USD recorded a strong spike higher this morning
  • Ripple(XRP) market is ready to reverse.

Today’s Ripple price analysis is bullish, as a fast fall brought the market below the previous low. XRP/USD, on the other hand, experienced robust buying pressure as soon as it moved back toward the $1.10 mark, signifying strong demand at decreased prices.

Ripple price analysis
Cryptocurrency heat map. Source: Coin360

Following a 1.21% rise in the price of Bitcoin and a 0.62% drop in the price of Ethereum, Coin360’s heatmap shows that the overall cryptocurrency market is trading with mixed results. Binance Coin, Ripple, and Cardano are among the gainers, whereas Solana, Polkadot, and Filecoin are among

Ripple price movement in the last 24 hours: Ripple sets higher low, followed by strong buying pressure

Over the past 24 hours, XRP/USD has fluctuated in a range of $1.03 to $1.14, suggesting high volatility over this period. Trading volume has increased by 2.04 percent, reaching $3.52 billion in total, while the overall market cap is around $51.1 billion, placing the coin in

XRP/USD 4-hour chart: XRP set to push higher today?

On the 4-hour chart, we can see Ripple price rapidly recover to $1.10 overnight, suggesting a lot of bullish momentum building.

Ripple Price Analysis: XRP swiftly spikes to $1.09 1
XRP/USD 4-hour chart. Source: TradingView

On the day, XRP/USD has recovered some ground, but it still looks in danger of declining further. Ripple’s price action in October was impressive in terms of gains, with a more than 35 percent increase to the current swing high set on the 10th. However, bearish momentum reemerged soon thereafter, pushing XRP/USD below the 50 percent support.

Ripple saw a small bounce-back over the following days, indicating that we may see more highs set. On October 16th, XRP reached a high of $1.18, causing a further decline.

Yesterday, the price of Ripple dipped gradually until it reached $1.10. Following that, the bearish trend strengthened, leading to a jump to $1.02. After pushing XRP/USD back towards $1, bullish momentum returned.

Ripple Price Analysis: Conclusion 

Ripple’s price is on the rise today, as any further downside was reversed over the previous 24 hours, bringing XRP back to $1.10. As a result, we anticipate that XRP/USD will continue to rise later today.

While waiting for Ripple to move further, read our guides on Metaverse wallet, Fiat wallet reviews, and NFT art finance token.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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