Ripple (XRP), along with the whole market had hit multiyear lows around a week ago, and by now, the coin has managed to enter into a slight price recovery mode. The coin was as low as 0.11 on March 13, and now the coin has started exploring price ranges above $0.15. Here, the coin has performed many crucial S/R Flips.
XRP price was trading with a mild positive approach until yesterday, and it is very recently when the coin has started taking significantly higher strides. This is largely thanks to the recent Bitcoin’s price rally that took place yesterday.
XRP Price Analysis
Ripple price opened yesterday above $0.1483, and it formed a dip at $0.1451 before starting a steady price rise. The coin reached above $0.1654 over a half-day and formed a bullish trend line from here. The coin formed higher highs at $0.1714 before closing at $0.1663. Today, the XRP coin has started the day with a slight bearish move as it dipped at $0.1578 initially.
Here, it seems to have active support there, and the price has soared from there to hit the $0.1733 price mark. Another higher high was formed at $0.1748 before it corrected down at $0.1688 at 11:47:38 UTC. Also, the Ripple coin is well above the EMA line, noting a positive sign. Meanwhile, Bollinger bands have opened to welcome volatility.
XRP has risen by more than 18% in a single day, and today the surge has been extended. Moving averages have formed a bearish crossover while the RSI indicator is moving towards the oversold zone.