- Ripple price analysis is bullish today.
- XRP/USD is trading at $0.99 as of the time of writting.
- Support was found at $0.90.
The ripple price is currently bearish. As we anticipate the $0.90 resistance to keep prices from declining further, today’s Ripple price analysis is bullish. Later today, XRP/USD is likely to consolidate and establish a clear high-low distinction before more gains are seen.
Ripple price movement in the last 24 hours: Ripple retraces to $0.90
Yesterday’s high was marked by a Doji candle marked on the above 4-hour chart. The Doji signals indecision among market players, so yesterday’s price action can be interpreted as neutral. We might see XRP/USD consolidate and establish a clear high low distinction before further gains are seen. At current levels, it seems like Ripple price analysis will remain bullish for the remainder of December and the first half of January.
Today’s price analysis shows that support has been found at $0.90 – the same level where resistance was last week. The Fibonacci retracement tool applied to an upward sloping half-way correction from the low of $0.89 to yesterday’s high shows that support is likely to be found at a fresh downside 1.272 Fibonacci Extension at $0.87 – a price level which was tested during early Asian hours today and held as resistance.
XRP/USD 4-hour chart: XRP Expected to spike higher
On the 4-hour chart, we can see that the Ripple price is currently finding strong support at $0.90, which suggests that a new low has been established.
Ripple price action has seen a strong bullish momentum return over the last week. After previously slowly declining, support was found at $0.76 before the first higher lows were set.
The above 4-hour chart for XRP/USD shows how Ripple price analysis will remain bullish going forward if this week’s highs don’t break by more than 10 cents, as it seems that prices are slowly establishing a bottom around these levels. Today’s Price prediction for Ripple remains bullish given there is no strong selling pressure behind the move at current levels being seen on the market, so it might be a good time to buy XRP/USD from current levels.
On Saturday, Ripple’s price dropped by around 12% in a matter of minutes, pushing back against the $0.90 support level. As a result, the Ripple price movement has probably established a robust higher low and is now ready to rise once more.
Ripple Price Analysis: Conclusion
In light of the above technical considerations, today’s Price prediction for Ripple remains bullish given there is no strong selling pressure behind the move at current levels being seen on the market, so it might be a good time to buy XRP/USD from current levels. In case resistances hold and decline, resume later today.
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