TL;DR Breakdown
- Ripple price analysis is bullish today.
- XRP/USD found another higher low at $0.82.
- Bullish momentum returned over the last hours.
Ripple price analysis is bullish today as we expect its rally to continue following the higher low it set at $0.82. XRP/USD may continue towards the $0.90 mark as it moves towards the next major resistance.
The market has moved mostly in the green over the last 24 hours. The leader, Bitcoin, lost 0.18 percent, while Ethereum gained 0.19 percent. Ripple (XRP) is also marginally in the red, while Cardano (ADA) is the top performer with over 11 percent gain.
Ripple price movement in the last 24 hours: Ripple retraces to set another higher local low
XRP/USD traded in a range of $0.8206 – $0.8441, indicating moderate volatility over the last 24 hours. Trading volume has declined by 26.21 percent, totaling $2.1 billion, while the total market cap trades at $40.46 billion, resulting in a dominance of 6th place.
XRP/USD 4-hour chart: XRP ready to continue higher?
On the 4-hour chart, we can see the Ripple price action attempting to move higher again, likely leading to further upside tested by the end of the day.
Ripple price action has maintained its steady advance from last week. From the previous local swing low at $0.80, XRP/USD rallied towards the next major resistance at $0.85, leading to another higher local high at $0.865.
The overall market structure looks increasingly bullish. The current retracement has also set a strong higher low, indicating that the momentum remains strong.
Overall, considering the current developments around Ripple’s price action, we expect more upside to follow as the $0.82 mark has likely reversed the market again. It should test the previous local high soon and, if broken, could lead to a lot more upside later in the week.
Ripple price analysis: Conclusion
Ripple price analysis is bullish today as we expect more upside to follow after it set another higher low at $0.82 earlier. XRP/USD may break past the current local high over the next 24 hours and continue its rally to the next major resistance at $0.90.
While waiting for Ethereum to move further, see our articles on Crypto Launchpads, DeFi 101, and what you should know about DAOs.
