Ripple price analysis: XRP races to $0.5194 after bullish revival

Ripple price analysis

TL;DR Breakdown

  • Ripple price analysis is bullish today
  • Resistance for XRP/USD is present at $0.525
  • The strongest support is present at $0.5082

Ripple price analysis shows that the digital asset has found stability at $0.5194 after receiving a bullish push from the market. The cryptocurrency is currently trading above the $0.50 level, and it looks like it is preparing for another leg up in the near future. The next resistance level to watch out for is $0.525. On the downside, the strongest support levels are $0.5082.

The market capitalization for XRP/USD is currently $25 billion. The 24-hour trading volume is $1.37 million. The digital asset has been on a bull run since the beginning of today, and it looks like the uptrend is set to continue in the near future. Ripple has outperformed most of its competitors in the market, and it is currently one of the best-performing cryptocurrencies.

XRP/USD 4-hour price analysis: Price returns to $0.5194, increasing chances for recovery

Ripple price analysis indicates that market volatility follows an increasing trend, making Ripple prices more vulnerable to volatile changes on either extreme. The upper Bollinger’s band’s upper limit is $0.533, while the lower limit is $0.517, with a middle line at $0.51. The XRP/USD price appears to be crossing over the curve of the Moving Average, signifying a bullish trend. Furthermore, the XRP/USD price path is moving upwards, attempting to cross the resistance, indicating bullish potential and reversal opportunities.

image 118
Source: Trading View

The RSI indicator is currently at 64.54 and meaning that the XRP/USD is stable and falls in the upper-neutral region. The RSI score appears to be following an upward movement signifying an increasing market trend toward further positive dynamics. The RSI score increases because of the dominant buying activity.

Ripple price analysis for 1 day: Cryptocurrency follows an uptrend as price trails past $0.5194

The 4-hour chart for XRP/USD shows that the cryptocurrency is in an uptrend as it has broken past the resistance at $0.525. The bulls have been reigning the price chart for the past few hours, and the price has undergone a sufficient improvement. The green candlestick is indicative of an upward trend as the buying momentum intensifies.

image 116
Source: Trading View

The Bollinger bands are currently squeezed, which is an indication of low volatility. The price is currently trading close to the middle line, which is a sign of stability. The Moving averages are above the candlestick bodies, which is a bullish sign. The RSI indicator is currently at 62.53 and is in the upper-neutral region.

Ripple price analysis conclusion

To sum up our today’s Ripple price analysis, The market is currently in a consolidation phase below $0.50. However, the bulls are in control of the market as they push the prices higher. The next level of resistance is at $0.525; if the bulls manage to break past this level, we can expect the price to rally toward $0.533. On the downside, the support levels are at $0.5082; breaking below this level could see the price retrace toward the $0.5050 support level.

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.
Ann Mugoiri

Ann Mugoiri

Ann likes to write about crypto and blockchain technology. She has been following the development of these technologies for a few years and believes that they have the potential to disrupt many industries.She has specialized in technical analysis to help cryptocurrency traders make more informed decisions.

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