- Bulls are combating to win control over XRP’s price trend, but frequent and strong pullbacks are coming across as a major hindrance
- The persisting volatility is causing the coin to tap onto contradicting sentiments although today, Ripple seems bullish
- The coin has been desperately approaching the $0.18 mark since the last one week; stable rally above $0.1850 is a must for the coin to adapt to a bullish trend
- XRP price rose by 5.77% overnight; once again tests resistance above $0.1770
The market bigwigs, Bitcoin, and Ripple, are sharing one thing in common these days: the range-bound approach! While BTC is struggling to step above $7000, XRP is finding it tough even to hit the $0.18 price range.
Ripple Price Analysis
The way XRP keeps knocking the resistance levels above $0.1770, it shows how desperately the coin is intending to claim the highs above $0.18. While XRP has recovered yesterday’s losses, the coin is still below its two-day high price level. Notably, the coin entered the ongoing month on a bearish note.
On March 31, the Ripple price went as high as $0.1783 twice, forming a double top. The next day, a strong pullback took over the XRP coin, and the price went as low as $0.1685, dragging immediate support levels downwards.
It has rebounded from there; after the coin resumed the rise today, XRP price has reached above $0.1770. The hike was 5.77%, and now the currency is consolidating at $0.1773. Notably, the coin is way above the 200-day EMA line with a bullish bias.
The below-given chart depicts XRP’s price movements after the infamous market crash that happened on March 13. The coin went even below $0.14, and the plunge deepened further over the next couple of days.
With the intention of recovery, XRP has been forming higher lows until now. For those who might have missed buying opportunities on initial dips at $0.14 and $0.13, the coin recently took a plunge near $0.1630.
The target price stands at $0.2102 for the buying price of $0.1630. Here, it fetches a profit of 28.96%; also, stop loss should be near $0.1420 for the same. Ripple may form one more minor dip to continue its rebound further. Moreover, RSI and MACD indicators seem to be exploring the positive zone with a bullish bias.