Price Analysis

Ripple’s Recovery Faces a Rough Patch; Targets to Cross above $0.30

  • XRP aims to strike a breakout above $0.30, though continues to move up
  • The 4-hourly chart shows a dip near $0.2996, XRP rebounded to recover the price loss
  • The coin recently traced a bullish trendline with an impulse pattern

The crypto market is slowly pacing up with the bulls as the overall market capitalization also shows notable progress these days. Though major altcoins such as Ripple are also gaining traction, the crypto coin is yet to clear the price barriers against U.S. Dollar. Meanwhile, Bitcoin is heading towards a $9400 price mark.

Ripple Price Prediction:

Over the last 4 hours, Ripple has dropped from $0.30 and then possessed the price mark again with a rebound. The coin was at $0.3011 at 08:15 UTC, and it surged from there to $0.3026. From there, it steadily pulled back to $0.2996, with a decline of 0.98%. As the price mark acted as a decent support level, it started a mild price recovery and recently, it has reclaimed $0.30 price mark. XRP price trend has traced a bullish trendline, and at 12:16:08 UTC, Ripple is trading at $0.3018.

Ripple to USD Price Chart
Ripple Price Chart by TradingView

To the relief of the investors, XRP is trading in the ‘Buy’ phase maintaining an uptrend. However, the coin is facing major rejection above $0.30 for long. With that, a new update in which it has been revealed that Xpring, the fundraising, and development arm of Ripple is investing in Flare Networks is expected to make a positive difference in its price trend. This decision has been taken to enable “smart contract capability.”

Coming back to the price chart, the technical indicators look positive with its MACD lines in the bullish zone. RSI is also in a stable phase near 50. The XRP coin may face resistance at $0.3045, $0.3078, and $0.3111, while its support levels can be at $0.2979, $0.2946, and $0.2913.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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