Ripple price analysis: XRP jumps to $0.3513 as bullish momentum takes over

Ripple price analysis

TL;DR Breakdown

  • Ripple price analysis shows a strong bullish trend
  • Resistance for XRP/USD is present at $0.3539
  • Support for XRP is present at the $0.3216 level

Ripple price analysis shows strong bullish momentum,  as XRP has jumped to $0.3513, up from a low of $0.3216 over the past 24 hours. The crypto coin has been trading in an uptrend since earlier today as the market opened trading in bearish territory, However, the cryptocurrency has now reversed its trend and started trading in a bullish manner.

The price chart shows strong resistance for XRP/USD at $0.3539. This is a clear indication that buyers are interested in buying up this digital asset as it continues to climb higher. On the downside, support for XRP can be found at the $0.3216 level. This is an important level as it shows that buyers are still interested in buying up the asset even at lower prices.

The other cryptocurrencies have also been performing well, with Ethereum (ETH) rising to a high of $1,216. Bitcoin (BTC) has also risen to a new all-time high of above $16,697 per coin. These developments are likely to have a positive impact on the price of XRP as its follows suit and continues the bullish momentum.

XRP/USD 1-day price chart: Tremendous increase in price as bulls regain momentum

The daily Ripple price analysis is giving the bulls a lead as the price levels jumped to $0.3513 after a strong bullish rally. This has surprised the analysts and turned many towards the buying side after the sudden shift in the market trend. The coin gained a good 3.51 percent value during the last 24 hours. The calculated moving average (MA) over the past 24 hours has been $0.3484, which is a positive sign as the coin is over that mark now.

image 27
XRP/USD 24-hour chart. Source: TradingView

The volatility for the candlestick chart is gradually increasing as the upper limit of the Bollinger bands reaches the value of $0.37, and the lower one goes down to the $0.32811 level. At the same time, the price has shooted past the upper band, which is a strong bullish indication. The Relative Strength Index (RSI) is showing a score of 41.17, which is moving towards the over-bought limit, as the past week has been favorable for cryptocurrency, and an overwhelming buying activity has taken over the market today.

Ripple price analysis: Recent developments and further technical indications

The 4-hour Ripple price analysis shows a sharp increase in the XRP coin value as the price has reached $0.3513. The weekly analysis is also in favor of bulls as it tells that the buyers have dominated the market and helped the cryptocurrency rise slowly. Today’s case has proved to be the same, rather much more overwhelming, as the Moving Average (MA) has moved up to $0.340.

image 26
XRP/USD 4-hour chart. Source: TradingView

The future trends can be positive for the buyers, as the volatility is increasing in the candlestick chart. Meanwhile, the values of the Bollinger bands are as follows; the upper value is at the $0.3507 mark, whereas the lower value is present at the $0.33099 mark. The RSI score is 42.95 in the 4-hour chart, which may raise more in the future depending upon the circumstances.

Ripple price analysis conclusion

From the above Ripple price analysis, it can be inferred that today’s trend has proved to be in favor of the buyers as the price levels increased tremendously to $0.3513 during the day. Both the 1-day and 4-hours price charts have been showing strong support for cryptocurrency, as the price function has been headed upward for the last 8 hours.

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.

Joel Oluwatobi

Joel Oluwatobi

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

Related News

Hot Stories

ChainLink price analysis: LINK bearish at $7
The Winning Trio for 2023: Flow (FLOW), EOS (EOS), Orbeon Protocol (ORBN)
Porter Stansberry's New Documentary Explains How Two Men Changed the US Economy
Read why Floki Inu supply is set to decrease by 4.2 trillion FLOKI tokens
Dogecoin price analysis: Bears arrest bullish momentum at $0.090, what’s in the box?

Follow Us

Industry News

Read why Floki Inu supply is set to decrease by 4.2 trillion FLOKI tokens
Chinese central bank former exec explains why China is wary of crypto
Binance burns 16m worth of BNB tokens; transitions from the ERC20 version of BNB to BEP2
SBF speaks on witness tampering allegations
South Korea unveils plans to monitor cryptocurrency in 2023

Add Your Heading Text Here