The XRP price has been showing great performance again. Today, the third-ranked cryptocurrency in the world has encountered an almost 5.3% gain and has touched $ 0.295 at the time of writing this. XRP’s trading volume also increased tremendously in the past few days. Is XRP price building gains above $0.292. Let’s see it in more detail.
Ripple Price Analysis: XRP Price and Bulls are Climbing
Ripple Price Analysis of 1 Day: XRP/USD 1 Day Chart: Tradingview
It seems that bulls are climbing again. At the moment, bulls have a lot of momentum and they could climb above $0.30 in the next few hours. The percentage change in the current market cap of XRP vs USD, compared with 24hrs ago, is increased by almost 5.32%. On the other hand, the percentage change in the Bitcoin-denominated current market cap of XRP, compared with 24hrs ago is increased by almost 3.6%.
As mentioned earlier, the XRP/USD price is currently trading at $0.295 and it’s looking for more without a lot of resistance to the upside. The daily chart is looking bullish with the MACD displaying notable bull momentum and both EMAs on the edge of a bull cross. The key metrics are as follows:
Price $0.295
24hr Change +5.32%
24hr Vol $327,284,997
Liquid Marketcap $9,427,829,849
Liquid Supply 31,878,315,960
Ripple Price Analysis: Short-Term XRP Price Forecast is Bullish
Ripple Price Analysis of 6 Months: XRP/USD 6 Months Chart: Tradingview
The Ripple price is currently heavily bullish in the short-term. The daily uptrend is notably strong and the XRP price still hasn’t hit its yearly high at $0.346. The 1 hr range between XRP’s lowest and highest trading prices could be $0.294 – $0.296 while the range between XRP’s lowest and highest trading prices in 24 hours could be $0.276 – $0.303.
The next most important resistance level could be at $0.304. Bulls could then finally face the 2020-high. If XRP price begins to strengthen then buyers could use the 12-EMA for the support.
Ripple Price Analysis: XRP Price Monthly Chart Analysis
Ripple Price Analysis of 1 Month: XRP/USD 1 Month Chart: Tradingview
The most important chart for the XRP/USD price in the long-term is its monthly chart. The Ripple price has been in a downtrend since December 2017 but now a breakout above $0.340 would establish an uptrend.
Ripple price is showing bullish behavior and it is in an uptrend but there are still some resistance levels to conquer. The trading volume is growing and the RSI is still not overextended. The bulls are somewhat facing the 200-EMA resistance at $0.305, so there is a strong resistance area between $0.30 and $0.31.
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Conclusion
The next resistance level could be at $0.313, which is near the 25-EMA but XRP is also meeting all the other short-term resistance points. The RSI could be in the center and could be accountable for no influence on XRP’s price. We wish you happy trading!
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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