- Bulls pushing towards $0.30
- Buyers in control of the XRP/USD pair price action
- Ripple price rises for then 7th consecutive day
Ripple price general overview
Ripple price recovery has faced a tough challenge near the $0.26 resistance in the near past. Last month, XRP seemed to have dipped at $0.22; however, the price retracement commenced but clearing the $0.26 level was off the grid.
Ripple price daily recap
The XRP/USD price action opened the day trading near the $0.25655 price level; after closing the previous day trading at $0.25683. In its adventure, Ripple’s price has ranged in between $0.25559 — $0.25845 so far, and it is currently trading at $0.25788.
Yesterday marked the seventh consecutive day that Ripple price has increased. The cross-border token ranked second since yesterday in a percentage price change.
Ripple price 4-hour chart
Currently, the XRP bulls are cultivating an uptrend near the $0.26 resistance. The XRP/USD price action is trading within an ascending triangle, and it appears to be laboring towards a breakout. This price action pattern is standard in the market where an ascending trendline connects a series of higher lows, and a horizontal line connects a string of swing highs.
Ripple price prediction
The XRP/USD pair is currently expected to break out above the ascending triangle pattern, which is the sell off zone. The RSI verifies the likelihood of the XRP/USD price action sparking off above the horizontal trendline to initiate an upside break. A rally towards the $0.30 price level is anticipated if the bulls manage to clear the selling pressure near the $0.26 resistance.
On the flip side, if Ripple price action draws back from the sell-off zone, the nearest support is near the 50 SMA in its 4-hour chart. Moreover, if the bears exert immense pressure, a substantial decline towards the subsequent support levels at $0.24, $0.23, and $0.22 might be on the build-up.
Since the 50 Simple moving average remains higher than the long-term 100 simple moving average, it shows that the bulls currently control the price. Regardless, the flight above the horizontal trendline needs to take off as the sellers are preparing to lobby the Ripple price.
In other news, a recent Twitter poll conducted by XRP_Cro among over 1,000 XRP community members suggests most of the investors anticipate Ripple price to surpass the $100 mark even though the token has displayed a substandard performance in the last two years. More than 70 percent of the poll participants expect XRP to hit the $100 mark in the future.
Moreover, it is intriguing to learn that about 68 percent invested in XRP to become wealthy, and just below 15 percent bought XRP as a means of payment or for other reasons. Interestingly, over 90 percent of the respondents are long term hodlers of the cross-border token, and just 5 percent are traders.Disclaimer. The information provided is not a 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.