Ripple Price Analysis: Ripple (XRP) Uplifts, Heading Towards $0.34 Again

  • Ripple has recently shown an increase in its price, the coin may cross $0.32 soon
  • XRP price has just climbed above its 5-day SMA and 20-day SMA
  • The technical picture appears to be shifting towards bullish bias, Ripple coin trades under selling pressure

Ripple coin is firmly above $0.31 since yesterday and is still moving ahead with a bit bullish vibe against the U.S Dollar. Meanwhile, Bitcoin has stepped out of the narrow price range below $9500 and is above $9700 at the moment. The overall crypto market has also caught the bullish momentum as its total market capitalization has increased from $261,445,326,454 to $268,448,427,707 over the last 24 hours.

Yesterday, initially XRP kept ranging between $0.30 to $0.3141 and since 11:08 UTC, the coin has been stably above $0.31. At $0.3066, XRP coin saw decent support and it gradually surged to $0.3195. The Ripple coin had hit its 24-hour high price at $0.3219 with an increase of 4.99% from the support level. XRP has traced a downward correction from there at $0.3165. Meanwhile, the coin has traced a bullish trendline.

Today, it seems that the XRP coin has been resuming the upward move till now. At 05:17:06 UTC, XRP price was trading at $0.3195. Over the last 24 hours, Ripple price has increased by 2.73%.

XRP/USD Price Chart

Ripple Price Chart
Ripple Price Chart

XRP’s current price is just above its 5-day SMA and 20-day SMA which shows its steady increase. Though the coin is still 5.91% lower than its 30-day SMA and is trading under selling pressure.

Ripple coin is anticipated to face resistance above $0.32 which it needs to clear in order to avoid a price drop. At present, the coin seems to have a support level near $0.30. If the coin continues to surge, $0.34 is the price target to watch for.

Ripple Price Prediction & Technical Indicators:

MACD chart for the coin is lowly volatile, though it indicates a bullish price movement as its MACD line is above the signal line. RSI for XRP/USD is near 60 showing no extremities. Ripple may see resistance at $0.3233 and $0.3281 and support levels at $0.3107 and $0.3029. Check out our forecast section to know more about XRP Forecast. It will give you an idea about the future prices of the coin and lead you to make a good profit.

Ruti Vora

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

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