Ripple price analysis: XRP/USD set to break above $0.85

Ripple price analysis

TL;DR Breakdown

  • Ripple price analysis is bullish today.
  • XRP/USD is currently trading at $0.77.
  • It made a swift reaction to the upside over the last hours.

Ripple‘s price is rising today, especially after the first tests of the downside confirmed a solid higher low. As a result, XRP/USD has a firm foundation on which to reverse and continue testing the downside later in the week. There is still a lot of potential in Ripple’s price, and it will be interesting to see how it develops in the coming weeks.

Ripple price analysis is bullish today. The XRP/USD pair made another test of the downside this morning but quickly reversed course and has been rising since then. This shows that the bulls are still in control and that there is a lot of potential in Ripple’s price. It will be interesting to see how it develops in the coming weeks.

Ripple price movement in the last 24 hours: XRP continues to consolidate

Ripple prices have tested the $0.75 level twice but failed to close below it on both occasions. This shows that the bulls are still in control and that there is a lot of potential in Ripple’s price. It will be interesting to see how it develops in the coming weeks.

Ripple’s price is rising today, especially after the first tests of the downside confirmed a solid higher low. As a result, XRP/USD has a firm foundation on which to reverse and continue testing the downside later in the week.

XRP/USD 4-hour chart: XRP ready to rally?

On the 4-hour chart, we can see that Ripple is forming a bullish pennant. This is a very bullish sign, as it usually leads to a big rally. The breakout from the pennant will give us a strong indication of which direction Ripple is heading in. If the breakout is to the upside, we can expect Ripple to rally all the way up to the $1 level. If the breakout is to the downside, we can expect Ripple to continue falling towards the $0.50 level.

On the daily chart, we can see that Ripple is still in a consolidation phase. The bulls are trying to push Ripple higher but they have so far been unsuccessful. If the bulls can manage to break above the $0.80 level, we can expect Ripple to rally all the way up to the $1 level. However, if the bears manage to push Ripple below the $0.75 level, we can expect it to fall all the way down to the $0.50 level.

Ripple price analysis: XRP rejects further downside at $0.75, ready to reverse?XRP/USD 4-hour chart. Source: TradingView

Ripple’s price action has seen a string of higher lows over the past few weeks. After establishing the initial higher local high at $0.78 on the 10th of March, XRP/USD formed an ascending support trendline by retreating to $0.72.

After reaching a staggering high of $0.85 on March 11th, the price of Ripple dropped swiftly and steadily for the next few days before resuming its advance. Following another rapid decline over the following days, Ripple once again returned to the support trendline.

Ripple price analysis: Conclusion 

The Ripple price is continuing to build in its progress as it attempts to break out of a lengthy consolidation. Today’s analysis is bullish, as we’ve seen more resistance to the downside around the $0.75-$0.76 support range. As a result, XRP/USD has established a firm foundation on which to advance forward over the rest of the week.

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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