On June 9, 2019, the Ripple price (XRP) reached a high of $0.41. A rapid decrease ensued, and the price reached a low of $0.37 the same day. Since then, the price has been gradually increasing, which is an extremely positive sign for the traders.
The cryptocurrency market is volatile in general, and nothing can be said for any cryptocurrency with certainty, but the gurus and pundits like to understand the trading patterns and move cautiously.
The XRP/USD price analysis revealed that XRP is striving to rise above $0.40. There are various factors that are indicating an increase in the price of Ripple in the near future like its opening of an office in Brazil and the aim of further expansion till Latin America.
For a few days, the MCAD indicates a stagnant growth pattern. A spike usually occurs when Ripple XRP price is trading in the oversold zone.
Moreover, traders are expecting an increase in price. Recently, the XRP is trading at $0.4020; however, the currency can break through to a new height above $0.45.
Ripple foundation has been gearing the Ripple price up through collaborations and partnerships. However, slow support should be expected from that end since Visa and Coinbase are already in the market.
Ripple XRP price can rise up again only if the if it can beat the resistance level at the current XRP trading price.