Price Analysis

Ripple Price Analysis: XRP Finally Maintains an Uptrend, All Set for a Fresh Increase

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  • Ripple price finally reaches above $0.40, crosses barriers above $0.39 over a day
  • XRP has steadily maintained its price range above $0.4 since this morning
  • Tracing a bullish trend line, XRP has formed a decent support price level above $0.39
  • Ripple coin is likely to see a rise if the price range remains well above $0.40

Ripple is currently trading with bullish nature against U.S.Dollar after witnessing price turbulence for a few days. Presumably, this is due to Bitcoin’s recent price rally above $12k.

Yesterday, Ripple coin kept trading in its narrow price range near $0.39. The coin had a few price spikes above $0.40 followed by quick pullbacks. Though, since 22:12 UTC yesterday, XRP has been trading above $0.40 till now. The recent positive price move seems to have strong support near $0.39. If the Ripple coin manages to remain above $0.40, further price surges are likely to take place.

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Over the last 24 hours, XRP has surged from its lowest point of $0.3934 to $0.4080 with an increase of 3.70%.

XRP/USD 1-Day Price Chart by TradingView

XRP/USD 1-Day Price Chart

XRP’s current price is at $0.4058 at 04:13:03 UTC, striking an increase of 2.16% over a 24-hour time span. Here, the current price is still 3.70% lagging from its 20-days SMA of $0.4214. Though the price is steadily improving as compared to its 5-days SMA of $0.3947.

The Ripple price level above $0.39, which was a key resistance till yesterday, has turned into a major support level now. It is crucial for XRP to remain above $0.40, as, a drop below the key price level can invite bearish impact.

Technical Indicators:

The MACD chart for Ripple coin appears moderately volatile, especially in the later part. Despite the bullish sentiment, the MACD line is currently below the Signal line. Also, the RSI for the crypto-coin is just below 50, showing no extremities at the moment.

XRP may see immediate resistance at $0.4156 if the coin clears the resistance at $0.4053, also, it can see support levels at $0.3950 and $0.3885 if it sees bears coming in.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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