Ripple Price Analysis: XRP swiftly tests $1 mark, more upside to follow?

Ripple Price analysis

TL;DR Breakdown

  • Ripple price analysis is bullish today.
  • XRP/USD saw further upside yesterday.
  • Market spiked to $1 overnight.

Ripple price analysis is bullish today as we expect more upside to follow as the momentum is still strong around the $1 mark. Therefore, XRP/USD could move to the $1.06 resistance next.

Ripple Price Analysis: XRP swiftly tests $1 mark, more upside to follow? 1
Cryptocurrency heat map. Source: Coin360

The crypto market has seen mixed results over the last 24 hours. The market leader, Bitcoin, has lost 2.42 percent, while Ethereum 3.25 percent. Meanwhile, Ripple (XRP) is the top performer, with a gain of over 1.4 percent.

Ripple price movement in the last 24 hours: Ripple continues higher, reaches $1 previous resistance

XRP/USD traded in a range of $0.9272 – $1.01, indicating strong volatility over the last 24 hours. Trading volume has increased by 12.91 percent, totaling $4 billion. Meanwhile, the total market cap trades around $46.3 billion, ranking the coin in 6th place overall.

XRP/USD 4-hour chart: XRP targets $1.06 next?

On the 4-hour chart, we can see the Ripple price currently taking a pause as bulls prepare to break above the $1 mark.

Ripple Price Analysis: XRP tests $1 mark, more upside to follow?
XRP/USD 4-hour chart. Source: TradingView

Ripple price has seen bullish momentum return this week. After previously consolidating with a slight bearish momentum, XRP/USD found support at $0.76 early last week.

Since then, a higher low was set on the 15th of December, indicating a potential reversal. Previous resistance at $0.85 was finally broken on the 20th of December, further indicating that the market structure is turning bullish again.

Since then, the Ripple price has advanced with substantial momentum. The $1 mark was reached overnight, with slight rejection seen this morning. However, considering the overall momentum, we expect XRP/USD to make further attempts to move higher later today.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish today as we expect more upside to follow after a strong advance over the last 24 hours. Therefore, XRP/USD should break above the $1 mark later today and continue to the $1.06 next resistance.

While waiting for Ripple to move further, see our articles on crypto tax-loss harvesting, BTC-backed mortgage services, and Pi Wallet.

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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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