TL;DR Breakdown
- Ripple price currently at $0.64641
- Price action seems stagnated on the short-term charts
- Price to climb above $0.660 if support level holds.
Ripple price prediction: Today’s overview
Ripple price opened $0.60595 with slight bullish momentum that has defined the asset’s price movements across the day. The daily session did was not completely bullish or bearish, but wave-like activity was observed. Currently, Ripple price is $0.6 showing a 6.5 percent increase from the day’s opening price.
Ripple price across the last 24-hours
Ripple price opened the day at $0.605 as buyers found support at $0.600 to generate bullish movements. The price rose above $0.640 but failed to close above the level and subsequently declined. The price action remained bearish for the next few hours as buyers failed to defend the $0.620 support level. The price declined to $0.600 before finding strong support to initiate a bullish movement.
The price saw the wave-like activity as it rose above the $0.6200 level again, and after a brief rest, the buyers initiated a strong bull rally that raised the price above $0.6800. As the price failed to close above the level, it declined to the support level at $0.6330 and has consolidated between the support and $0.6600 resistance level. Further below, strong support lies at $0.6290
On the technical indicators, the MACD shows that the momentum is currently bearish, with the EMAs seem to be converging. Meanwhile, the RSO is neutral and does not indicate support for either side.
We expect that the price would consolidate a bit more on the short-term charts before testing resistance levels again. Buyers can expect the price to cross the $0.660 level by tomorrow.
Ripple price Long-term trend analysis
Ripple price has been consolidating in the region between $0.100 to $0.500 for a very long time. In fact, prior to the recent bull run. XRP has not closed above the $0.500 mark since November 2018. The asset’s price has spent the majority of its time between $0.200 and 0.300, with the price action rarely leaving the region.
The price action exhibited similar behavior at the start of 202 as the price went from $0.19236 to $0.33400 before facing rejection and heading downwards. The price fell to $1.200, which turned out to be the year’s lowest as the movement found support at the level and rose.
The price rose to the $0.200 level but continued to hover at the level for nearly four months. Only in late July did the price finally rose from $0.200 towards $0.300 but failed to cross the mark. Following the rejection, the price declined to the $0.250 level, where it consolidated until the recent bull run.
On 18 November, the bulls finally took control of the markets as the price crossed the $0.300 mark before eventually rising above the $0.400 level two days later. The price rose to $0.75, where it met strong resistance and fell back to $0.450, where it found support. Since then, the price has risen above the $0.600 level and currently trades near the $0.650 level.
On the technical indicators, the MACD is bullish but shows a declining bullish momentum as the two EMAs converge. On the other hand, the RSI is hovering around 70.00, suggesting the asset is overvalued but does not issue a strong signal.
