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Price Analysis

Ripple Price Analysis: XRP Price is Set to Shoot Up Once it Gets Stable Above $0.47

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Since yesterday, XRP has been attempting to gain stability above $0.47 price mark. Today’s XRP price trend even shows price plunges testing its key support level near $0.45. However, XRP price has marked its 24-hour high price above $0.48 today. 

Meanwhile, the other two leading cryptos have seen a steady price rise, as Bitcoin price is trading above $12000 and Ethereum crossed a major price mark of $330 with quite a bullish impact.

Current Statistics:

At 11:14:30 UTC, XRP was trading at $0.4745. Ripple holds $20,356,041,361 as its Market Capitalization while having Circulating Supply of 42,566,596,173 XRP. XRP fetches RoI (Return on Investment) of 8,041.46%. 

XRP 4-Hour Price Chart

Ripple Price Chart

Comparison:

At 7:30 UTC, XRP was trading at $0.4706, after a short while it corrected downwards and remained in the price range of $0.46 for more than an hour. Then, XRP took a sharp price spike at $0.4793 with an increase of 2.32%. It again moved down at $0.4740 and since then XRP has maintained its price range above $0.47. In the later part of the time frame, XRP traces a bullish trend line.

Conclusion:

Currently, XRP is approaching heights and a steady upward shift of its price above $0.47 can further shoot the XRP price up. If the XRP price steadily rises, it will see resistance at $0.4749 and $0.4816, also, XRP can see support levels at $0.4602 and $0.4522, if there is any price plunge.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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