- Bullish Ripple price prediction comes true as pair retests 2020 highs
- XRP/USD breaks above the key resistance of $0.2900 to cross $0.3000
- Pair follows broader crypto market rally taking price above key long-term resistance
- Ripple likely to jump higher as major trend line emerges near $0.2880 support line
Ripple price touches $0.3200 as a bullish wave sweeps altcoins
Today’s Ripple price prediction is just like any other crypto’s crystal ball. XRP is near fresh annual highs and is riding a bullish wave thanks to the broader crypto market rally. The pair is fast approaching the August high of $0.3291 and is currently trading at $0.3195. The pair has broken past the stretching Bollinger Bands with substantial volumes reflecting the underlying bullish trend.
The otherwise mixed start to the day was quickly replaced by intense buying action as bullish Ripple price prediction beckoned. The 3 percent drop on Wednesday was replaced by today’s rally that took the price up by around 4 percent. The pair broke past crucial resistance at $0.3077 first to target the $0.3200 level next. The hourly timeframes are overstretched as both MACD and RSI are above the overbought mark.
Ripple price movement in the last 24 hours – XRP outperforms BTC this week
Ripple has done the unthinkable – it has outperformed BTC/USD this week as it rose approximately 23.7 percent. The XRP/USD pair was trading near $0.27 last week and today touched $0.322 after surging a whopping 23 percent. Despite minor corrections on the way, the coin has delivered high returns among its peers this week.
The 0.886 percent Fibonacci Retracement at $0.321 is well within the pair’s reach. On the hourly charts, the green candles are a reminder that the altcoins are running high on broader crypto market positive sentiment. Looking ahead, the bulls must strive to push towards higher resistances at $0.322 and then target $0.33. A retest of the annual high of $0.3500 will bring in to picture the 1.618 Fibonacci Retracement level, which currently stands at $0.354.
XRP/USD 4-hour chart – Euphoric takes over Ripple price prediction
Just like any other altcoin, Ripple price prediction was in neutral territory a few days ago. However, Bitcoin bull runs are known to trigger altcoin rallies, and it turned out right for Ethereum and Ripple. Today, XRP reached $0.3069 in a matter of few hours on the back of strong buying from the broader crypto market rally. The Ripple price prediction ignored overbought technical signals to rally further and reach $0.3200.
A late bull run saw the pair demolish lower resistances at the $0.3019 level. Going ahead, XRP/USD will have to close above the $0.3200 mark to avoid facing selling pressure. The $0.2983 is the first support for the pair and then at $0.3125. Barring an extended selloff, the first support will hold the pair at $0.3125 and likely cap any downside. Bulls must strive to close above $0.3210 to save today’s substantial gains.
XRP/USD facing crucial resistance ahead on the daily timeframe
This week, Ripple pierced through crucial resistance at $0.2920, where the 100-day SMA lies. The pair is well on its way to touch $0.3221 resistance ahead. The entire journey of 23 percent rise only took five day period and showed that money is pouring into the altcoins. Currently, the pair has corrected towards $0.3170 after a euphoric bullish rally upwards.
The price traded near monthly highs as the lower supports moved higher and moving averages sloped rose as well. The pivot point at the $0.2920 level was also taken out swiftly by the bulls. The pair took a breather near $0.2880, where the accumulation took place for the continuation of the uptrend. Next, the coin went past the $0.3083 level to chart new highs of $0.3211.
There is a long bullish trend line emerging beyond the $0.2880 support area on the hourly Ripple price prediction. The 50 percent Fibonacci Retracement level is close to the current price of $0.2980 and also measures well from the decline that began earlier from the $0.3083 high.
Ripple price prediction conclusion – Clear break above $0.3200 to target $0.3221 next
Bulls must demonstrate resilience to keep the price above the psychological $0.3200 level. A clear close above $0.2960 on the daily charts will give a definite edge to the bulls on the longer timeframe. A significant support region is forming near the $0.2880 level on the daily charts and is expected to ward off any extended sell-offs.
The 100-hour SMA is moving close to the ascending price channel giving further support to the pair at $0.2860. To turn the Ripple price prediction bearish, the bears will have to bring the price near the $0.2850. The hourly RSI and MACD are nearing exhaustion. More technical indicators are close to overbought levels and are flashing red sell signals.
Compared to BTC, the bulls are getting quite a beating as the XRP/USD pair is trading near 4-month lows. The XRP/BTC pair is currently trading near 1555 SAT, and the pair will likely see more downside as XRP/USD rises further in the coming days.
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