- Ripple price prediction shows the cryptocurrency surged by more than 15 percent in the last 24-hours.
- The recent price surge saw the crypto asset surge past the coveted $1.7 mark.
- According to current technical indicators, Ripple appears to be headed past the $2 mark in the ongoing bull run.
- If Ripple manages to settle above the ascending triangle channel, it could open the door for further surges.
Despite having to deal with the Securities and Exchange Commission lawsuit, Ripple has been doing pretty well in recovering its price levels. For instance, in April, the crypto asset managed to record a 3-year high, disappointing many who had projected its downfall towards the 0 price level following the aforementioned court case.
Ripple Price Prediction: General price overview
Finally, Ripple has turned the cumbersome $1.3 resistance level into a critical support level, allowing the bulls to push the coin further upwards. The ongoing bullish trend has managed to bypass the $1.5 50 Simple Moving Average (SMA) on the 12-hour chart. This move further cements the presence of Ripple bulls in the market. Additionally, last week’s $1.6 resistance level appears to have been a major catalyst in pushing Ripple beyond the $1.7 mark.
Presently, XRP is trading at about $1.6, following a 15 percent price surge in the last 24-hours. According to key technical indicators, Ripple appears to be on track in unseating and reclaiming the 4th largest cryptocurrency by market cap spot from Dogecoin. This is thanks to the recent surge that has seen the crypto coin attract more than $10 billion in trade volumes across all platforms. At present, Ripple’s market capitalization stands at around $78 billion.
Ripple price movement in the past 24 hours
According to Ripple’s 24-hour chart, it is clear the crypto asset appreciated by 17 percent in value. This comes at a time Ripple was trading at the $1.4 region after recording a 3.5 percent price decline in its 48-hour chart. During the start of trading today, the crypto coin bounced back to bypass the $1.7 mark. By doing this, Ripple managed to form an ascending triangular pattern on its 4-hour chart, signaling a bullish outlook. Whenever an ascending triangular pattern forms, it signifies the start of bullish momentum. In this case, the current pattern signifies Ripple is ready to continue with its bull run.
If Ripple continues to exchange above the $1.6 mark, it will form a cup-with-handle base pattern that will offer potential investors an opportunity to buy using a timely entry price. Ripple is likely to experience some resistance at the 13th April resistance level at $1.95, but a more significant challenge is expected at the $2 and $2.1 price regions.
Ripple 4-hour chart
According to Ripple’s 4-hour chart, the current bull run appears to have been validated by the Moving Average Convergence Divergence (MACD) blue line. Apart from hovering at the positive area, the MACD blue line appears to be way above the signal line. This is a good thing as it paints a bullish narrative.
Subsequently, the Relative Strength Index (RSI) shows Ripple does not have any substantial resistance in its upward path. If the remittance token breaks out past the $2 mark, Ripple is likely to experience massive buy orders with the expectation to head towards $2.3.
According to its recent price movement, Ripple is quickly emerging as a high-risk and high-return virtual asset. For this reason, investors have to be aware of Ripple’s crucial support levels, as any price decline below the $1.3 price region could send it plunging downwards.
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.