- Bullish Ripple price prediction chugs on as price breaks off the symmetrical triangle
- XRP/USD ends consolidation with a confident breakout above $0.4100
- The support at $0.35 moves higher as bulls increase buying pressure
- Ripple price prediction puts next resistance at $0.45 and $0.50
- XRP whales are swinging the price in bullish territory with massive volumes
After the massive upswing that saw Ripple price touching $0.7550 high, the XRP/USD is trading within the Bollinger Bands. The colossal liquidity wave has subsided, and the price is hovering near the critical resistance at $0.4310. The cross-border cryptocurrency is currently undergoing substantial price fluctuations resulting in a large wave of liquidity being pumped in and out of the market in short intervals.
XRP whales, a relatively new term, are causing a considerable rise and fall in the cryptocurrency’s price lately. Today, the price began at $0.39790 and saw a high of $0.48197. The bulls are continually trying to hit the Bollinger Bands’ upper ceiling and challenge the $0.50 resistance. The price is currently rangebound within the $0.3500 to $0.4650.
On the downside, the $0.3500 support point is holding the fort. The bulls are using every correction lower to load up more buy orders and increase the volumes. The uptrend is slowly emerging on the hourly charts as higher lows are seen on the hourly candles. The $0.350 support is pivotal in the short term since it is vital for the current recovery bull trend. Any sharp move towards $0.50 resistance can see the price jump towards the $0.6500 level.
Ripple price movement in the last 24 hours: XRP challenges upper resistance at $0.50
Ripple price prediction of $0.50 may soon be a reality courtesy of the gradual movement built by the rising momentum. The bulls are laying the bricks by creating a buying momentum towards $0.4500 resistance, and the same is evident in the higher lows candlestick patterns. Currently, the price is trading above the symmetrical triangle pattern near the $0.448 resistance.
The $0.35 support pivot well supports the ascending price channel. Selling pressure at $0.45 remains the critical challenge to the current recovery phase. In the short term, minor profit booking can derail the recovery, but it won’t dent the overall bullish overtone in the Ripple price prediction.
The past 24 hours have been more or less consolidating in nature as the price fluctuates near the immediate resistance levels. Any close above the $0.4500 resistance can induce a fresh round of ‘Fear of Missing Out’ in the XRP/USD pair.
Institutional participation is also responsible for the current upswing. Financial Giant SBI from Japan has announced that its subsidiary will start XRP lending operations where investors can earn interest.
XRP/USD 4-hour chart: $0.45 technical resistance holds the key
The two impediments to the current bull trend stand at $0.45 and $0.50 level. Sellers will manage to push the price downwards in case the bulls lose the momentum. The MACD indicators show a bullish impulse building in the current price action. MACD is an ideal technical indicator to predict a momentum build-up at a price. The divergence line on the MACD chart is widening beyond the signal line giving further strength to the bull trend in Ripple price prediction.
The ‘Parabolic SAR’ points are another indicators that show an upward bias in the price. The price is trading just beyond the upper boundary of the SAR points. Therefore, a trend reversal looks highly unlikely in the current pretext.
Uptrend continuation is further encouraged by the RSI figure, which shows a reading of 61. Ripple price prediction is likely to maintain the current uptrend, with the price closing above $0.450 in the next few sessions.
Ripple price prediction conclusion: XRP to regain $0.755 level
Bulls are on course to build a giant buying momentum and take XRP/USD into the hallowed $0.7550 zone. Most of the technical metrics support the continuation of the bull trend. As the price continues to post new upticks, the XRP whales will increase the volumes. Investors will return to the XRP fold once the price crosses the $0.6500 level.
The wild fluctuations in the price now seem to have subsided. Thin weekend liquidity may cause some temporary price rise or fall. The price has managed to maintain most of the gains from the recent sharp uptrend. The $0.350 support will cap the downside. Bulls are going to be in charge of Ripple price prediction for the next few session.
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