Ripple Price Analysis: Ripple (XRP) Awaits a Price Boost to Surge Above $0.47
- Since the last couple of hours, XRP is trading above 0.47, though currently seems unstable
- Yesterday, Ripple price was ranging between $0.4588 to $0.4735, while facing price fluctuations
- Ripple price trend forms major support near $0.45 but struggles to stay above resistance near $0.46
Ripple coin is trading within a narrow range against the U.S Dollar and is failing to stay above $0.47. Contrary to the XRP’s price trend, Bitcoin is strongly surging against USD and has even topped $12k price level.
Yesterday, XRP had its opening price at $0.4705 but the coin kept oscillating between $0.46 to $0.47. XRP also went near its crucial support at $0.45 with 3 major price falls shown in the chart. Though the price level of 0.45 has acted as a strong support level there.
XRP/USD 1-Day Price Chart by TradingView
Today, the coin seems to be striking a price recovery, while tracing a bullish trend line. After an initial plunge near $0.4602, XRP has corrected gains while clearing resistance at $0.466. After a pullback, Ripple again surged to its 24-hour high price of $0.4809 and then corrected down at $0.4728. At 04:48:10 UTC, XRP was trading at $0.4762. It is to be seen that for how long Ripple coin holds position above $0.47.
Notably, the 50-days SMA of XRP lags behind the current price by 16.36%, which points out to the bullish vibe in its price trend. The current uptrend in the price indicates to the BUY pressure for Ripple coin.
According to the 1-day chart of XRP/USD, the price level above $0.45 has emerged as crucial support. A dip below $0.45 can take XRP price to the narrow price range near $0.44. Moreover, one more price spike above $0.48 can invite higher surges in Ripple price trend.
Technical Indicators:
- RSI for XRP/USD is at 63.75, near its overbought phase.
- The MACD chart has turned moderately volatile over a day, and it currently indicates bullish impact as the MACD line is above Signal line.
Ripple Price Prediction
If Ripple price continues its bullish spree, it may see resistance levels at $0.4749 and $0.4816. Though a price drop can take it to the support levels of $0.4602 and $0.4522.
