- Ripple price analysis is bullish today.
- XRP/USD is currently trading at $1.192
- Technicals are bullish on XRP/USD.
Today’s XRP price analysis is positive as a new higher low will almost certainly be established at the $1.16 mark, resulting in a reversal. As a result, we anticipate XRP/USD to rise again above $1.22 and proceed higher to $1.25 in the near term.
The daily chart above for XRP/USD shows that Ripple‘s price is currently trading at $1.192 and is up 4.31% in 24 hours. The current market sentiment for XRP/USD is bullish as it’s trading above Ichimoku cloud and the base and conversion line (yellow, orange), which signals a bullish move in the near term.
The relative strength index ( RSI ) favors buyers; it is trading above 50 but very close to 52, which typically signals a buy for Ichimoku traders.
However, we note that the Oscillator is green today but red on last Friday, which signals indecision in the market, and a retracement could be possible. For now, though, it looks like XRP/USD will continue pushing higher.
The daily chart above shows a similar picture for XRP/USD, but it can be seen that the Ichimoku Cloud is thicker, which signals stronger support for XRP/USD. Similar to yesterday’s technical analysis, we are looking for an early daily close above the conversion line at $1.2166, which will signal bullish momentum in the market today.
XRP/USD 4-hour chart: XRP looking to reverse above $1.16?
On the 4-hour chart, we can see previous resistance at $1.16 currently holding the Ripple price action from moving lower, likely resulting in a reversal later today.
As far as resistance goes, there are no obstacles between now and $1.25 apart from the Ichimoku cloud, which could act as a resistance, but nothing is stopping XRP/USD from rising above it.
If you’re currently holding onto your XRP, then consider selling at any price above $1.2166 to take some profits off the table, as there are no guarantees that this will be an ongoing bull rally.
If the price cannot maintain itself at $1.22 and falls further to $1.16 (previous support), the push to highs may likely fail, and we could see a reversal take place in XRP/USD. If this does happen, consider accumulating around $1.12 and setting a sell order to target $1.16 for a new low or a test of the highs.
Ripple Price Analysis: Conclusion
Ripple price analysis is bullish today, and we anticipate XRP/USD to rise again above $1.22 and proceed higher to $1.25 in the near term. There are no guarantees that this will be an ongoing bull rally on the 4-hour chart, but there is strong momentum in place on lower timeframes.
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.