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Ripple Price Analysis: XRP still holds above $1.07, more upside to follow?

Ripple Price analysis

TL;DR Breakdown

  • Ripple price analysis is bullish today.
  • XRP/USD rejected downside at $1.07 yesterday.
  • Current resistance at $1.10 holds.

Ripple price analysis is bullish today as rejection for further downside was seen yesterday after a brief spike lower. Therefore, we expect XRP/USD to push higher today and likely break the $1.10 local resistance.

Ripple Price Analysis: XRP still holds above $1.07, more upside to follow? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly with bullish momentum over the last 24 hours. The market leaders, Bitcoin and Ethereum, are up by 2.12 and 1.01 percent, while Solana (SOL) is among the top performers, with a gain of over 8 percent.

Ripple price movement in the last 24 hours: Ripple rejects downside at $1.07

XRP/USD traded in a range of $1.06 – $1.10, indicating low volatility over the last 24 hours. Trading volume has increased by 19.6 percent and totals $2.461 billion, while the total market cap trades around $51.21 billion, ranking the coin in 7th place overall.

XRP/USD 4-hour chart: XRP looks to move above $1.10

On the 4-hour chart, we can see slight bullish momentum overnight, likely leading the Ripple price action higher later today.

Ripple Price Analysis: XRP still holds above $1.07, more upside to follow?
XRP/USD 4-hour chart. Source: TradingView

Ripple price action has continued to struggle over the past week. After an initial strong bullish move at the beginning of October to the $1.22 mark, a retracement followed to $1.07.

After another push higher, a lower high was set at $1.18, leading XRP/USD back to the $1.07 mark. The third attempt to push higher was seen on the 20th of October, resulting in the further lower high set.

The $1.07 support was retested again with rejection for the downside. Overall, as long as the Ripple price action holds above the support, we can expect another push higher over the next days.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish as the downside was quickly rejected below $1.07 yesterday, leading XRP/USD higher overnight. Therefore, we expect bullish momentum to continue over the next 24 hours.

While waiting for Ripple to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

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.

Lapin

Lapin

Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

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