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Ripple price analysis: XRP/USD Bullish for the next 24 hours

Ripple price analysis

TL;DR Breakdown

  • Ripple price analysis is bullish today.
  • XRP/USD pair closest resistance is at $0.95.
  • Consolidation followed overnight.

Today’s Ripple price analysis is bullish as we anticipate another higher low to be established, resulting in another upswing over the weekend. Next, XRP/USD will set a new high and aim for the $0.80-$0.81 resistance area.

XRP/USD is trading in a green 1.63% on the day, at $0.7296, at writing. The cryptocurrency has been on an absolute tear over the past few days as it surged from $0.68 to highs of just below $0.73 yesterday before seeing some profit-taking.

Looking at the 4-hour chart, we can see that XRP/USD made a strong move up yesterday, reaching highs of $0.7269 before seeing rejection and dropping slightly. The market has since been consolidating in a range between the $0.7000 and $0.7250 levels overnight.

The consolidation looks set to continue into the morning as we see a bullish flag pattern forming. This suggests that there is still upward momentum present in the market and that we could see another higher low established, leading to another upswing over the weekend.

Next likely, XRP/USD will establish a new high and aim for the $0.80-$0.81 resistance area. A break above this could see prices move up towards the $0.90 level.

The market has been consolidating overnight and is now trading just below the $0.7200 resistance area. We anticipate bulls to defend this support and push prices higher, with the next likely target being the $0.80-$0.81 resistance area. A break above this could see XRP/USD test the $0.90 level.

On the downside, the main support area is located at $0.6850, and a break below this could see prices drop back to $0.60 in the short term.

Ripple price analysis is bullish today as we anticipate another higher low to be established, resulting in another upswing over the weekend. Next likely, XRP/USD will establish a new high and aim for the $0.80-$0.81 resistance area.

XRP/USD 4-hour chart: XRP on its way higher?

On the 4-hour chart, we can see that the market is consolidating in a bullish flag pattern. This suggests that upward momentum is present, and we could see another higher low established, leading to another upswing over the weekend.

Next likely, XRP/USD will establish a new high and aim for the $0.80-$0.81 resistance area. A break above this could see prices move up towards the $0.90 level.

Ripple price analysis: XRP/USD Bullish for the next 24 hours 1
XRP/USD 4-hour chart. Source: TradingView

Ripple’s price action has been confined in an increasingly tighter range over the past week. After several attempts to hold $0.70, the trading range shrank considerably early this week.

Looking at the 4-hour chart, we can see that XRP/USD made a strong move up yesterday, reaching highs of $0.7269 before seeing rejection and dropping slightly. The market has since been consolidating in a range between the $0.7000 and $0.7250 levels overnight.

Ripple price analysis: Conclusion 

Ripple price analysis is bullish today as we have seen both higher high and low sets over the past few days. Therefore, XRP/USD should see an upsurge over the weekend, potentially reaching the $0.80 next resistance.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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