- The market knows how to manage XRP as it remains bullish, with strong volume and strength.
- XRP trades higher than support. This price aims at continuing its trend move if the price holds above 8 or 20-day EMA.
- The price of XRP is expected to rise towards $1 after key resistance was overcome by support from more orders.
As price trends continue, the price of Ripple has shown its strength with an important breakout from a downtrend area against USDT. As the market looked promising and the crypto market cap rose from its weekly lows, Ripple (XRP), too, was not overlooked. The price moved out of its long-range with the price trending higher with the eyes on the $1 mark. (Data from Binance).
Weekly Chart: Price Analysis for Ripple (XRP).
As most altcoins anticipated, the crypto market saw some relief. Although most altcoins experienced a price rise in recent crypto assets, they have been range bound.
The XRP project has maintained its steady price rise over the last few days. The court ruling favoring Ripple (XRP winning) was announced by XRP. XRP has seen a steady price rise week after week as the price eyed $1.
The price of XRP fell to $0.3 per week. A court order came at the right moment. The price then rose to $0.53 which created a bullish situation. If XRP keeps its bullish structure, with a high volume, then we may see a rally to $1.
Weekly resistance for the price of XRP – $0.6-$0.8.
Weekly support for the price of XRP – $0.3.
Price Analysis For XRP On the Daily (1D), Chart
The price of XRP is showing strength on a daily basis as it continues to pull some gains despite market movement appearing to be stalled. After hitting a daily low at $0.44, it rallied to a peak of $0.5 before it was rejected into an ascending triangular as price failed to breakout and looked more bullish about a rally.
Indicating more bullish tendencies, XRP could reach $0.6 at the high and possibly rally up to $1. This is a sign that XRP will continue to grow in price.
Prices at $0.50, $0.4 and $0.05 correspond to 8-day EMA values.
Relative Strength Index for XRP (RSI), shows an increase in buy orders when the daily value exceeds 50.
Daily resistance for the XRP price – $0.6-$0.8.
Daily support for the XRP price – $0.45.
Finbold Charts, Featured Image from Tradingview