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

Ripple price analysis

TL;DR Breakdown

  • Ripple price analysis is bullish today.
  • XRP/USD endured a sharp drop this morning.
  • Recovery bounce seen over the last hours.

The Ripple price analysis is currently bullish, as clear signals of a higher low with a rapid rise toward the previous ascending trendline indicate. XRP/USD may soon rally further and return to previous highs of $0.85.

The Ripple price is currently hovering around $0.75, after dropping as low as $0.73 earlier today. However, the 4-hour chart shows that the price has found support at the $0.73 level and is currently in the process of rebounding higher.

The longer-term outlook for Ripple remains bullish, as the price has recently formed a clear higher low around the $0.68 level. This indicates that the bulls are still in control of the market and that a rally back toward the previous highs of $0.85 is likely in the near future.

So overall, the current Ripple price trend looks bullish and there are good indicators that we could see a continuation of the rally soon. Keep an eye on the $0.73 support level to gauge when the bounce will happen.

Ripple price movement in the last 24 hours: Bulls controll the market

The Ripple price is currently bullish, as clear signals of a higher low with a rapid rise toward the previous ascending trendline indicate. XRP/USD may soon rally further and return to previous highs of $0.85.

The Ripple price is currently hovering around $0.75, after dropping as low as $0.73 earlier today. However, the 4-hour chart shows that the price has found support at the $0.73 level and is currently in the process of rebounding higher.

XRP/USD 4-hour chart: XRP ready to continue higher?

On the hourly chart, we can see fierce resistance for the downside as the market surged to $0.76 support, suggesting more upside movement.

Ripple price analysis: XRP/USD to break above $0.85 soon 1
XRP/USD 4-hour chart. Source: TradingView

Ripple’s price has continued to set a series of higher lows over the past week. A clear trendline has been drawn along the way, with numerous trials following.

It set a new sturdy higher high at $0.85 after a spectacular rise over the previous weekend. The retracement that followed established a clearer higher low, suggesting even more strength.

The Relative Strength Index (RSI) is an indicator that measures the speed and change of price movements. The Ripple RSI looks primed for a breakout as it trades just below overbought conditions with plenty of room to run.

All in all, the charts are suggesting that Ripple’s XRP token will continue to rise in price over the coming hours and could soon retest the previous highs of $0.85.

Ripple price analysis: Conclusion 

Ripple’s price is presently in a good position, as we saw a quick dip met with strong resistance. As a result, the market looks to be ready to rise further with sights set on the previous high of $0.85 as a long-term objective.

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.

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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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