- Ripple price analysis is bullish today.
- Strong resistance is present at $0.784.
- Strong support for XRP is found at $0.755.
The Ripple price analysis is on the bullish side today after a major decline occurred in the last two days. Cryptocurrency has managed to overcome the huge loss and climb up the price levels to retouch $0.767. The general response from the buyers has been encouraging, which is why the price levels managed to stay above the $0.755 support. Nonetheless, the trends today have been largely bullish, with a further rise in price happening in the current hour, as XRP has broken above the $0.764 resistance.
XRP/USD 1-day price chart: XRP resurges in search of recovery
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The one-day price chart showing Ripple price analysis is going smoothly towards a restoration of the coin value. The last few days experienced unfavorable circumstances and a considerable fall in the price levels. Yet, today’s trend has been surprising as price levels continue to move towards the resistance at $0.784. The moving average (MA) has been $0.753 below the current price level.
The SMA 20 is going higher, and the volatility is also high for the 1-day chart, indicating that the bullish momentum will further intensify. The Bollinger bands are also showing us the following values; the upper band is present at $0.809, representing resistance, while the lower band is present at $0.687 representing support. With the sudden uprise in the price, the Relative Strength Index (RSI) also balanced itself at index 51, which is quite impressive for the bulls.
Ripple price analysis: Recent developments and further technical indications
The 4-hours price chart for Ripple price analysis is displaying promising signs for the bulls. Although the past few days have proved fatal for XRP, the hourly trend is much different. Bullish momentum is securing its place on the chart, with the price expected to cross $0.784 resistance. The SMA 20 has been traveling down towards SMA 50, resulting in a drop in price levels previously. But, it is expected that the cryptocurrency will soon touch the moving average at $0.781 if the current trend follows.
The Bollinger bands are also covering more area, with the upper value climbing to $0.824 and the lower one to $0.726. The RSI curve also took a turn and started an upward movement, with the score reaching index 49, indicating the buying momentum in the market.
Ripple price analysis: Conclusion
From the above Ripple price analysis, we can say in the past week, the price levels have experienced instability at various points, but the larger trend was bullish. Yet, the XRP gained strength against the bearish momentum and succeeded in regaining the value at $0.767. If the current support levels at $0.755 are maintained, then there is a great chance that cryptocurrency will continue upside towards the $0.784