The recent Ripple price analysis shows that the bulls have taken control of the XRP/USD pair after a brief correction period. The price is currently trading above the $0.40 level and is set to continue higher soon. A considerable rise in coin value was detected throughout the day, and the bullish momentum has placed XRP as one of the early recoverers of today’s market crash.
The support for the XRP/USD pair is seen at the $0.3576 level, and the bulls are currently aiming for a breakout above the $0.4215 resistance level. A bullish continuation could see the price reach highs of $0.48 in the near term. The 24-hour trading volume for XRP is $3.806 billion, and the coin is currently changing hands at $0.4134 while the market cap is at $20 billion.
XRP/USD 1-day price chart: Ripple recovers after dipping low
The one-day Ripple price analysis confirms a strong bullish trend for the day. The bulls have controlled the market throughout the day as the price has broken above the $0.4215 resistance in the past few hours. More profit seems to be on its way for Ripple buyers as the price just reached the $0.4134 high, gaining more than 13.42 percent value. Further chances of revival seem close as the buyers persistently put in efforts. Moreover, the daily price chart’s moving average (MA) value is $0.3992.
The Bollinger bands are converging sharply, showing a decrease in volatility, but the low and high swings of today’s price action might push the indicator to diverge again. Meanwhile, the upper Bollinger band shows a $0.4215 value, representing the strongest resistance, whereas the lower Bollinger band displays a $0.3576 value, representing the strongest support. Lastly, the Relative Strength Index (RSI) score just reached index 52.04 due to the recent upturn in price.
XRP/USD 4-hour chart: Recent price movement
The hourly Ripple price analysis is in favor of the bulls as well, as the coin, after dipping down to $0.3576 has rallied towards $0.4134. All the recovery has been made during the last eight hours as the bulls have made a successful return and have helped Ripple be the highest gainer among the top 100 cryptocurrencies. This is rather encouraging news for the buyers, as the bears were progressing swiftly in the earlier hours. Furthermore, if we discuss the Moving Average value as present in the four-hour price chart, it is standing at $0.3936.
The upper value of the Bollinger bands indicator settles at $0.4218, whereas its lower value is set at $0.3566. The price has rallied from below the bottom of the Bollinger bands towards the upper limit of the indicator. The RSI score has also come quite high because of the bullish wave and is present at index 56.83 due to the strong buying momentum, but now the curve is settling horizontally, hinting at a slowdown in the buying activity.
Ripple price analysis conclusion
Overall, the Ripple price analysis for today shows that the coin has recovered from the earlier dip and is currently trading with a bullish bias. The bulls are aiming to break past the $0.4215 resistance, and if successful, XRP might target highs of $0.48 in the near future. The bears also might make a return soon as the buying activity seems to have slowed down.
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