TL;DR Breakdown
- Ripple price prediction expects a rise to $0.45.
- Strong resistance lies at the $0.36 mark.
- Strong support lies at the $0.24 mark.
The Trading View analyst Stargazer’s Ripple price prediction shows that the cryptocurrency will continue this uptrend until it reaches the $0.45 level. The cryptocurrency observed a major price ascension on the 7th of January and reached above the $0.34 level.
1-Day Ripple price analysis
The cryptocurrency was priced at $0.340 at the time of writing. The cryptocurrency observed a significant increase in its price on the 7th of January. The altcoin was under a decline from the mid of December while a major part of the crypto market was under a price ascension. We can observe the daily chart to see that the XRP price line observed a major ascending slope, and the price rose across the $0.36 mark in the afternoon.
The highest price that the cryptocurrency reached was the $0.363 level on the 7th of January, whereas the lowest price it saw was the $0.245 mark. The oscillators show a buy signal for the XRPUSD pair, where two out of eleven oscillators are showing a buy signal, and one is under a sell signal. The rest of the eight oscillators stand neutral.
The Moving Averages have more of a bias towards the buy indication, as ten out of seventeen Moving Averages indicate a buying position for Ripple. 6 stand at a sell position, and 1 stands neutral. The Moving Average Convergence Divergence (MACD) line and the signal line are under an uptrend on their scale, with the histogram growing in the green region as well. This means that XRP is bullish on the 4h time frame. The Relative Strength Index (RSI) appears to be reentering the neutral zone, while it still stands overbought at 72.88.
The Bollinger Band for the XRPUSD pair shows that the cryptocurrency has seen increased price volatility, though the price has been riding above the upper Bollinger band from the start of the 7th December. The price has also seen a red candle here, where it might return below the upper Bollinger band.
Ripple price prediction: What to expect?
Per the Ripple price prediction below, the cryptocurrency had entered a falling wedge pattern in the last week of November 2020. The cryptocurrency observed a major fall in its price, especially after its delisting by the Bittrex exchange. The price observed a double bottom pattern above the $0.2 support level.
The XRP price had been contracting between the two trend lines that formed the wedge-like structure, and the price was also supported by the lower trend line of the whole structure. The breakout caused the price to gain sufficient bulls on the 4h chart, where it hit the 1st target.
Right after the XRP price escaped the falling wedge pattern, the price rested above the $0.2 support for a while and then observed a sudden uptrend on the charts. The cryptocurrency has moved above the $0.3 level, which was the first target for this ascension move, per the analyst. The Ripple price prediction suggests that the cryptocurrency will rise towards the $0.38 and the $0.45 levels. These targets lie higher in the trade setup, and the cryptocurrency is still under a bullish bias.
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