TL;DR Breakdown
- Ripple price prediction trying to move into bullish territory.
- XRP/USD brings fresh intra-day highs.
- Vital RSI and MACD remains below the 200-day SMA.
- Ripple price prediction faces multiple resistances ahead.
XRP has risen approximately 6.5 percent this week. However, it continues its journey upwards despite the overall bearish sentiment in the crypto market. The Ripple price prediction is moving within the symmetrical triangle pattern, as has been the theme throughout January 2021. The coin has held the immediate lower support at $0.263, which happens to be the .618 Fibonacci level in the current price movement.
Earlier this week, the bears did manage to slip the price under $0.268. The lower Bollinger Band was able to provide adequate support to handle the fall. The swift move downwards on Wednesday has been handled well by the bulls, and the pair was able to bounce back quickly within the respectable Bollinger Band range.
The XRP/USD pair managed to reach the triangle top and touch $0.32 high. The sharp move was in contradiction to the broader crypto market, which is more or less stagnant. The upward bias has helped XRP/USD attract more liquidity to its fold. The symmetrical triangle ensures that the price is moving within a tight range of $0.3000 to $0.2443. A confident breakout above the triangle will help bulls take the price towards the next higher resistance at $0.3660.
Ripple price movement in the last 24 hours – Bulls must move beyond $0.3640
Ripple price prediction is currently stuck in a range. The buying action has been stagnant despite the sharp uptrend yesterday that saw the price touch a $0.32 high. The emergence of a symmetrical triangle is sending bearish signals, but confusion prevails since the volume numbers aren’t clarifying any further direction. Both the bulls and the bears are swaying the price within the extremes of the Bollinger Bands.
Looking ahead, the buyers must gather momentum to take the price beyond the $0.3 resistance and close above it confidently. A daily close above this level will bring the higher levels back into the picture. The Ripple price prediction is moving towards positive bias. The price needs to move beyond the $0.35 level to cross the .382 Fibonacci resistance level at $0.358 to make a decent mark on the charts. Furthermore, the pair will find resistance at $0.417 that represents the 0.50 Fibonacci resistance.
On the south side, the pair will find support at the $0.263 level, which has provided significant support to the pair in recent times. The Ripple price prediction shows further support at $0.23, where the .786 Fibonacci support lies for the pair and will hold off any further selloff.
XRP/USD 4-hour chart – Price slowly moving upwards
At the time of writing, the pair is trading above $0.2843. The pair has risen from yesterday’s high of $0.2717 and creates a new high in today’s trading session. The price is slowly moving higher to touch the upper range of the Bollinger Bands. The altcoin must close above $0.283 to help bulls maintain the momentum into the weekend.
The volumes are likely to go further down as the weekend approaches. The recovery from $0.2440 low has been remarkable. The RSI, though below 50, has begun to look upwards as the pair remains near the middle region of the Bollinger Bands. The 200-day SMA is still below the price, which further boosts the XRP/USD bulls’ morale. The trendline, however, remains downward sloping, signifying a bearish overtone to the current price movement.
The buyers must shift the focus towards accumulation to create more decisive support pivot points near the $0.2789 region. The upside momentum is capped by a falling MACD, showing more resistance ahead for the Ripple price prediction.
Ripple price prediction conclusion – $0.3 holds the key
The vital threshold level of $0.3 will decide further price movement in XRP/USD. The pair will likely wait at the $0.2890 level to build an accumulation phase. The bulls must achieve a next close above $0.300 to define a new bull run.
The pullback may take the pair near the $0.2600 level and spell another downturn in the pair. The weekly support lies at $0.2440, which may prove a psychological magnet.
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