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Ripple Price Analysis: XRP spikes higher, targets $0.90 resistance next?

Ripple Price analysis

TL;DR Breakdown

  • Ripple price analysis is bullish today.
  • XRP/USD established higher low Yesterday.
  • Market breached $0.85 previous resistance.

Ripple price analysis is bullish today as another higher high currently gets set after breaking past the $0.85 previous low with strong momentum. Therefore, we expect XRP/USD to continue even higher, with the next target at the $0.90 resistance.

Ripple Price Analysis: XRP spikes higher, targets $0.90 resistance next? 1
Cryptocurrency heat map. Source: Coin360

The overall market has seen mixed results over the last 24 hours. The market leader, Bitcoin, has lost 1.27 percent, while Ethereum posted a gain of 1.59 percent. Meanwhile, Ripple (XRP) is among the top performers, with a gain of over 5 percent.

Ripple price movement in the last 24 hours: Ripple continues above $0.85 after setting a higher low

XRP/USD traded in a range of $0.8064 – $0.8748, indicating strong volatility over the last 24 hours. Trading volume has declined by 4.23 percent, totaling $2.79 billion, while the total market cap trades around $41.2 billion, ranking the coin in 7th place overall.

XRP/USD 4-hour chart: XRP on its way to $0.90?

On the 4-hour chart, we can see bullish momentum still strong for the Ripple price action, likely leading to the $0.90 resistance next.

Ripple Price Analysis: XRP spikes higher, targets $0.90 resistance next?
XRP/USD 4-hour chart. Source: TradingView

Ripple price action has seen a continuous decline over the past weeks. After spiking lower by more than 35 percent last Friday, the current major swing low was set with strong rejection.

Therefore, XRP/USD could see a major trend reversal over the next weeks. However, first, a strong base from which to continue needs to be set.

Right now, we can see the Ripple price action continuing to regain previous loss as both a higher local high and low has been set. As long as more upside follows, we could see a lot more further upside later this week.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish today as we saw the $0.85 previous high broken in a clear way. Therefore, XRP/USD should continue higher until the next resistance at $0.90.

While waiting for Ripple to move further, see our articles on How to mine Monero, XRP vs BTC, and DeFi Wallet Review.

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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