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Ripple price analysis: Bull’s set to break past the $0.9507 level; the main target remains at $1

Ripple price analysis

TL;DR Breakdown

  • Ripple price analysis is bullish today.
  • XRP/USD found support at $0.66
  • Ripple resistance is at $1.

Ripple price analysis is bullish today, and we might see a surge for the next few days up to $1.5, which is the previous high for Ripple.

Some bearish crosses are taking place on the 30 min chart, signalizing sell demand on Ripple currently. Another negative sign is that it has failed to break past resistance levels today, which have been acting as a support along with lower highs and lows, which indicates weak momentum of buyers.

Ripple price movement over the Last 24-hours: Rising trading volumes suggest increasing support for XRP

Today’s Ripple price analysis sees that $0.6817 was the opening price today of XRP/USD, and it shot up to a high of $0.9057 yesterday before dropping to $0.75003, which is still above the opening price of $0.6817. The surge might be due to Ripple announcing their new rumored product xRapid; more information will be provided in our next Ripple news article. As for now, we are staying bullish and looking forward to seeing XRP/USD keep the upward trend.

Ripple price analysis: The rally begins 3 months after the correction, XRP/USD price is up by over 3% in 24-hours, and bulls are trying their best to push prices past the $0.75179 resistance level. The good news is that it has broken past the $0.71 support level and might be on its way to touching $0.9507, which could pave ways for further gains and take XRP price towards $1 where sellers might be waiting for buyers around this mark or even below it until we can trade above $1.

The first resistance level XRP will have to break through is the $0.9008 resistance. It’s going to be a tough nut to crack as this was a strong resistance before and also a previous swing high for Ripple; if bulls manage to break past this, then we might see some bullish action taking place with the next stop at $1, where it will face sellers around that area since it’s still very far from getting there. Only time will tell us where prices are heading, but Ripple price analysis sees that coin staying above current levels because of its surge today, which is about 3% up in 24-hours.

Ripple price analysis: Bull's set to break past the $0.9507 level; the main target remains at $1 1
Source: TradingView

Ripple, the more you learn about this cryptocurrency, the more you will fall in love with it. The ripple technology promises a lot for its future, and also, the fact that some large corporations are backing up this currency makes it a very promising one. Ripple is a real-time gross settlement system (RTGS), currency exchange, and remittance network which supports various use cases apart from being a digital coin.

This crypto coin comes under the blockchain umbrella of cryptocurrencies. Still, unlike other coins such as Bitcoin, Ethereum, or Litecoin, it runs on an open-source internet protocol which means any bank can integrate this payment protocol into their systems to send money across countries at low cost and no need of going through the hassles of SWIFT.

4-hour Ripple price analysis Chart: XRP/USD set to break above $1

The price is currently trading at $0.8946 on the 4-hour chart with a few positive signs of rising, but on the downside, it is finding strong resistance at $1.15, which might prevent further gains for Ripple price in the coming hours.

Ripple price analysis: Bull's set to break past the $0.9507 level; the main target remains at $1 2
Source: TradingView

The RSI Price prediction chart shows that the RSI is currently at 61.19, consolidating gains towards $1.

The Stochastic Oscillators also favor the bulls, with both indicators trading above 50 levels. The daily trend indicators are bullish, courtesy of the significant trading volumes emerging from oversold territory. Therefore, Ripple’s price action will likely push past $1.

Ripple price analysis: conclusion

The current price action of XRP is bullish, and we can see it reaching towards our target at $1 in a couple of days if not hours, because what will be needed for XRP/USD pair is an increase in demand, and it’s the right time for that considering how prices are currently.

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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