XRP, at the time of writing, was trading at $0.2259 on Coinbase. Moreover, the coin has hit a fresh 30-day high at $0.246 just two days back. With BTC trading consistently above $8,000, we see a considerable amount of growth pumped up in the altcoin market as well. All the major altcoins are seen recording fresh heights and gaining the utmost support from the daily moving averages.
XRP Price Analysis:
Analyzing the 4-hourly XRP/USD movement on Coinbase, we see that the coin is portraying an uptrend since the start of the year after bottoming out at $0.184. The green candle breakout on the 4-hourly price chart has marked a fresh high at $0.2463. Also, the 20 days Bollinger Band laid are seen widening as the market welcomes volatility in the upcoming days. The current price action is correcting downwards at $0.2259. XRP price is likely to dip around a $0.21 price zone and hit the projected apex. It is rightly supported by the 50-day daily MA. The 200-day daily moving average lies out of the band width range and even below the apex.
The technical indicators laid confirm about the intraday dip from $0.246 as the MACD of XRP is seen having a slight ‘death crossover’ as the signal line overrides the MACD line.
The RSI of the coin is at 53.42 and is seen sliding from the overbought region as the price of Ripple coin plunges through its intraday move.