- 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.
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 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.