- Ripple price currently at $0.60811 2.16
- Price consolidates as breakout point approaches
- Positive indicators suggest upwards breakout as current trend ends
Ripple price prediction: Today’s overview
Ripple (XRP) price opened at $0.6218 with slight bearish momentum that has dominated the charts today. Overall, the price action seems to be consolidating as a little net movement was seen towards either side. Currently, Ripple is trading at $0.6160, showing a -.97 percent decline from the day’s opening price.
Ripple price in December
Ripple price started the month at $0.66495 with bullish momentum as the price recovered from the decline to $0.46500. However, the bullish momentum was short-lived as the price action was rejected from the $0.680 level. Following the rejection, the price declined sharply to $0.570 before finding a strong support level to bounce back.
However, the price could not recover to the previous price level as the trend met resistance at $0.650, which stopped further upwards movement. For the next two days, the price action went back and forth between $0.5950 and $0.6350. On December 4, the price action broke below the level as the price declined sharply, reaching a low of $0.540 before finding support.
Since then, the price action has been trading above an ascending support line, but the upward movement has been insignificant due to resistance at $0.630.
The MACD shows declining bullish momentum as the two EMAs are beginning to converge. Meanwhile, the RSI remains neutral and flashes no signal at the time of writing. Overall, the technical indicators flash ‘buy’ signals on the short-term charts.
Ripple price action since November
Ripple price has spent a majority of its time this year, trading between the price levels of $0.200 and $0.300. While the price did see its share of bullish and bearish runs across the year, the movement outside this region was coupled with high volatility and lasted temporarily before the price returned to the level.
Ripple price was $0.23975 at the start of November with slight bearish pressure as the price declined to support level at $0.22840 before recovering. The price rose to $0.250 and consolidated around the point for the net seven days.
On November 13, the bulls took control of the markets as Ripple price concluded its consolidation and started rising towards higher resistance levels. The bullish momentum was very strong as the price rose from $0.300 to $0.4258 in just 24 hours. The price action stumbled at the level but continued ascending after a brief price correction.
The price climbed above the $0.700 level before meeting strong resistance at the level. The price went as high as $0.920 but failed to maintain support at the level and declined below the $0.700 mark. While the buyers made three attempts at crossing the level, they only succeeded briefly before the price retraced.
The rejection sent the price crashing to $0.455 before finding strong support to initiate a bullish reversal. Since then, the charts have observed wave-like activity as the price consolidates inside a large triangle. Currently, the price action is approaching the end of the triangle suggesting a breakout in the current trend.
On the technical indicators, the MACD has turned bullish and shows increasing bullish momentum as the two EMAs diverge. Meanwhile, the RSI remains neutral but shows upwards movement suggesting potential bullish activity. Overall, the technical indicators flash ‘strong buy’ signals on the mid-term charts.
As the triangle approaches its end, the price action is above to turn volatile with movement upwards or downwards from the current price level. The positive indicators and the strong support level indicate movement upwards. As such, traders can expect the price to rise above $0.650, reaching towards the $0.700 mark.