Price Analysis

Ripple Price Analysis: XRP Price Steps Up, Investors Hoping for further Gains

  • Ripple has been bullish for the whole day, currently dealing with resistance above $0.2720
  • XRP seems to have a support level at $0.2684, while it also has formed a support level at $0.2605 yesterday
  • 100-day SMA of Ripple is below the 10-day SMA; yesterday’s price escalation played a notable part behind the current bullish impact

Ripple coin investors must be closely paying attention to the mildly bullish price trend of the leading altcoin. Currently, XRP is tracing an uptrend against the U.S Dollar, and yesterday’s positive price shift appears as a significant factor behind it.

Ripple price was at $0.2658 when it opened yesterday, which faced a price drop to $0.2605 initially. From here, the coin rebounded a bit while tracing a head and shoulder pattern. From $0.2626, XRP took a sharp price escalation to $0.2740 with an increase of 4.34%. After a downward correction, the coin has traced another head and shoulder pattern while maintaining a bullish inclination.

Today morning, price of Ripple found a support price at $0.2684 and slowly started to move upwards and crossed resistance near $0.27. The coin is trading at $0.2728 at 11:55:52 UTC.

XRP/USD Price Chart by TradingView

Ripple Price Chart
Ripple Price Chart

Ripple price is below its 100-day SMA of $0.3654 with a difference of 25.36%, In fact, its 5-day SMA is also a bit above current price of XRP. However, XRP’s short term SMA line has just climbed above its long term SMA line, which shows its current bullish nature.

In the last 24 hours, XRP price has cleared a major resistance near $0.2700, though, is still trading under selling pressure.

Ripple Price Prediction & Technical Indicators:

MACD chart of XRP/USD is in the bullish zone and it just had a bullish crossover. RSI is heading for an overbought phase at present. Ripple may see resistance at $0.2755 and $0.2801, and support at $0.2641 and $0.2573.

Tags

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.
Back to top button
Close