- Ripple price analysis is bullish today.
- XRP/USD retraced overnight.
- XRP/USD is currently trading at $0.82.
As the price of Ripple surges, we predict that it will set a higher low soon as the $0.82 mark presently supports. XRP/USD is likely to reverse and move higher, possibly reaching further highs.
Ripple is performing well today, following the clearing of resistance at $0.85. The price spiked during yesterday’s Asian trading to as high as $1.05 before dropping back to a low of $0.82 as XRP/USD underwent some bearish action.
Ripple has reversed and looks set to move higher in upcoming sessions, with our first support held by the trendline having supported transactions all week long. The next support will be found around $0.88, and if this breaks, we might even encounter further support at $0.90 before reaching fresh highs.
The 4-hour chart confirms that Ripple is bullish today, following action at $0.82. However, the price could reverse soon as it continues to trade inside the ascending channel with resistance above $1.05.
The RSI indicator is also trending up and looks ready for another bullish breakout. Moreover, Ripple has already set its first higher low of the day today, which means that further support levels should be found before any bearish reversal occurs. XRP/USD is holding well, and we expect prices to rise further thanks to continued buy pressure before any correction occurs.
XRP/USD 4-hour chart: Bullish signals
On the four-hour chart, we anticipate the Ripple price to reverse soon as the market has recovered enough and is poised to break higher once again.
Ripple’s price has been consolidating above $0.81 for several days. According to predictions, we ended the decline by the end of 2021, after having dropped by around 20%.
A retest of the newly found support at $0.81 has also been completed. A further increase of around $0.01 is possible, according to the current market activity, after setting a new higher low at $0.82.
Ripple’s price declined over the past few days but managed to rebound after tapping on $0.81 briefly. This tap will be important support moving forward and make it easier for XRP/USD to continue rising in upcoming sessions (bullish).
Therefore, the current retracement likely will set a higher low soon and prepare the market for the next move higher. The next target is seen at $0.9, meaning that the Ripple price could see a strong move higher later this week.
Ripple Price Analysis: Conclusion
Ripple price analysis is bullish today, as we expect the retracement to end, and thus a higher low will be formed. Over the next days, likely XRP/USD is expected to test further upside and reach towards the $0.9 major resistance.
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