Ethereum
$ 1,189.43 2.31%
Solana
$ 37.93 5.78%
Dogecoin
$ 0.070969 7.91%
ApeCoin
$ 4.93 1.96%
Bitcoin
$ 20,792.00 1.91%
BNB
$ 234.67 1.23%

Ripple price analysis: XRP/USD set to break higher in the next 24 hours

Ripple Price analysis
TL;DR Breakdown
  • Ripple price analysis is bullish today.
  • XRP/USD found resistance at $0.5.
  • Bullish momentum returned overnight.

Ripple price analysis  is bullish today as buyers step in to defend the $0.33 level after a short-term dip overnight.

The XRP/USD pair is currently trading at $0.3375, having found support at the $0.33 level overnight.

Ripple price analysis shows that the XRP/USD pair is now back above the $0.33 level and is also back above the 200-day simple moving average (SMA).

Ripple price movement in the last 24 hours: Ripple fails to drop further, tests upside again

Ripple, on the other hand, is trading at around $0.37 in the last 24 hours, which is a downward movement of roughly 0.86 percent. The cryptocurrency opened the day at $0.4197 and fell to $0.4159 within the first hour but then rebounded and closed at $0.4188. The intraday high was at $0.4197 and the intraday low was at $0.4106.

On the 4-hour chart, we can see that Ripple has corrected higher after a brief dip overnight. The price is now testing the $0.3375 resistance level. A break above this level is needed to confirm a move higher towards the $0.35 level.

On the downside, support is now at the $0.33 level followed by the $0.3250 level. If buyers fail to defend these levels, a move back towards the $0.31 level is possible.

Ripple price analysis: Ripple buyers step in to defend the $0.33 level

Ripple price analysis is bullish today as buyers step in to defend the $0.33 level after a short-term dip overnight. The XRP/USD pair is currently trading at $0.3375, having found support at the $0.33 level overnight. Ripple price analysis shows that the XRP/USD pair is now back above the $0.33 level and is also back above the 200-day simple moving average (SMA).

The market was trading sideways for the most part of yesterday and even though it looked like the bears were in control, they could not push the prices lower. There was a slight bearish pressure felt throughout the day as the price dropped below $0.42 but it found support near the $0.415 level and pulled back up.

XRP/USD 4-hour chart: Ripple corrects higher after a brief dip

On the 4-hour Ripple price analysis chart, we can see that the price has formed a descending triangle pattern which is a bearish sign.

The 50-day moving average is close to the $0.415 level and is providing support while the 100-day moving average is close to the $0.425 level and is acting as a resistance.

Ripple price analysis: XRP sets higher low at $0.40, further retracement incoming?XRP/USD 4-hour chart. Source: TradingView

The MACD indicator is close to the zero line which shows that there is no clear trend at the moment.

The RSI indicator is also close to the 50 level which shows that the market is evenly balanced at the moment.

Looking at the chart, it seems like the price is likely to break down below the $0.415 level and retest the $0.41 level. Below this, the next support levels to watch out for are $0.405 and $0.40.

On the upside, if the price manages to break above the $0.425 level, it is likely to retest the $0.43 level which is a key resistance zone. Above this, the next level to watch out for are $0.45 and $0.5.

Ripple price analysis: Conclusion 

In the short-term Ripple price analysis, the market is likely to consolidate between the $0.415 and $0.425 levels as it looks to form a new direction. Below $0.415, the next support levels to watch out for are $0.41 and $0.405 while above $0.425, the next resistance levels to watch out for are $0.43 and $0.435.

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.

Related News

Hot Stories

Bitcoin, Ethereum, Shiba Inu, and Avalanche Daily Price Analyses – 27 June Roundup
Chainlink price analysis: LINK value drops to $6.5 after a bearish slide
Cryptopolitan to host Vidma in upcoming Web3 Masterminds session
Bitcoin price analysis: BTC retests $21,500, swift drop to $20,000 incoming?
Eminem promotes a BAYC video alongside Snoop Dogg

Follow Us

Industry News

Nexo reacts to new Emblezzlement allegations and threatens legal action
Bear market 2022 hits crypto to its worst in historic records
Anonymous plans to bring Do Kwon to justice
Mastercard survey: 50% of Latin Americans use crypto
Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b